JUST IN: President Donald Trump just made an announcement that has come as amazing news to his supporters.
The mainstream media is constantly trying to make Trump look like the worst president of all time. That’s why they aren’t reporting on the announcement he just made about his plans for the economy.
Fox Business reported that the Council of Economic Advisers just announced that U.S. economy will grow at an annual pace of at least 3% over the next decade after the benefits of tax cuts and regulatory changes exceeded expectations in 2017 thanks to Trump’s efforts.
“The administration is predicting, on average, 3% annual growth through 2028 with the tax cuts and the administration’s full policy agenda, compared to an estimated 2.2% annual growth without them,” said Kevin Hassett, chair of the council. He went on to say that the growth, over the long run, would be 3.8% larger if expensing provisions in the tax bill are made permanent and 2.9% larger if those provisions expire in five years.
The GDP grew an average of 2.3%, up from 1.5% in the year prior, and boasted two consecutive quarters of expansion above 3%. On top of that, the U.S. economy added 2.2 million jobs, including 189,000 in manufacturing and 53,000 in mining.
“The primary components driving my administration’s pro-growth policy agenda—tax cuts, tax reform and smart deregulation—have inspired enormous confidence in the economy and optimism that it will continue thriving,” President Trump wrote in the forward of the report.
The White House said that this is only the beginning of the economic expansion the Trump administration has planned. Trump’s tax overhaul, namely a 14-percentage-point reduction in the federal tax rate and allowing firms to expense investments fully, is expected to lift wages by $4,000. The report also stated that because of the Tax Cuts and Jobs Act, which Trump signed into law in December, 350 companies have already “announced billions in investments in plant and equipment in the United States,” along with efforts to implement new benefits for workers.
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