Tax Reform
Floor Speech
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Mr. McCONNELL. Mr. President, on one final matter, in storefront windows across America, new signs are going up--signs that many communities haven't seen literally in years. Here is what the signs say: ``Now Hiring.'' Just 16 months into the Trump administration and this Republican Congress, the percentage of American workers who are unemployed, underemployed, or have given up finding a job is already smaller than it ever was in any of the Obama years. In fact, it hasn't been this low since 2001. Let me say that again. Less unemployment, underemployment, and discouragement today than at any point in the last 17 years. Or we can look at how many Americans are receiving unemployment benefits. The answer is this: fewer today than at any time since--listen to this--1973.
We all know that these economic indicators can be noisy, but the big overall shift from the Obama era is impossible to deny. Republican policies have taken Washington's foot off the brake of the U.S. economy. We have rolled back a host of job-killing regulations. We have passed historic tax reform for middle-class families and job creators. These Republican policies have helped to unleash a dynamic, growing economy that is producing many more new jobs. It is putting the stagnation of the last decade literally to shame. That means sidelined workers get the chance to check back into the game. It means renewal is coming to so many small towns, small cities, and rural areas that had to sit and watch as Democratic policies funneled nearly all of the new wealth and new jobs into our Nation's biggest and bluest urban areas. It means higher wages, as local businesses are forced to compete again for the best workers.
I recently read about a man named Chandler Steffy. He owns a roofing company in Iowa. Three years ago, in the Obama economy, his laborers earned less than $15 an hour. Today is a different story. The unemployment rate in Iowa is under 3 percent, and Mr. Steffy pays $25 per hour to attract the best talent. American small businesses are doing well and outbidding each other for American workers. It feels good; doesn't it?
After 10 years of Democratic policies, this had practically become a foreign concept. Not anymore--it is a new day. There is more business for job creators, which means good jobs that need filling, which leads to higher pay for workers. This is happening all over our country.
Rich Obermark owns a small contracting business in Paducah, KY. They retrofit electrical systems, A/V equipment, and gas piping. He wrote me to explain: ``For our small company, the tax cuts will mean [we'll] be able to afford more trucks and tools.'' Tax reform, he said, ``will allow us to invest back into our company, which will in turn allow us to hire more people.''
There is more business, more investment, more job openings, and higher pay for workers as a consequence. After 8 years of Democratic policies, this sure is a sight for sore eyes, and this is only the beginning. These are only the early returns from Republicans' pro- opportunity, pro-worker agenda.
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