Trump riding high on tax cut boon: ‘Unleashed economic miracle’
President Trump on Friday touted the benefit of the tax cut law he signed six months ago, saying it had “unleashed an economic miracle.”
“At last our country finally has a tax system that is pro-jobs, pro-worker, pro-family and pro-America,” Mr. Trump said at a White House event to mark the six month anniversary of signing the Tax Cuts and Jobs Act.
The tax cuts are the centerpiece of Mr. Trump’s economic agenda. It’s also the chief argument for Republicans in this year’s midterm elections.
The president highlighted the positive economic data, from historic low unemployment rates to massive investment flowing into the U.S.
Workers have realized some immediate gains from the tax cuts, including more than 6 million American workers receiving bonuses and hourly wages growing at the fastest rate in at least a decade.
But Mr. Trump also highlighted the promise of benefits some worker might not feel until after the November elections, such as the average family pocking a $2,000 tax cut.
The president said the tax cuts meant “more jobs, bigger paychecks and keeping more or your hard earned money in your pocket or wherever you want to spend it.
Democrats have been skeptical of the tax cuts, saying it is a scam that mostly benefits the wealthy and will lead to cuts of welfare programs for the poor.
Every Democrat in Congress voted against the Tax Cuts and Jobs Act.
“The American people know that Republicans in Congress sold them out in order to reward their big money donors with a tax giveaway that the country couldn’t afford,” said Andrew Bates, spokesman for the liberal advocacy group American Bridge. “Now the middle class and working families are bearing the costs. This atrocious deal is something that the GOP should be running from not on.”