There was a lot of talk last week about the Congressional Budget Office’s terrifying update deficit forecastswhich many on the left have used as a cudgel to bash the up-to-date tax reform bill as fiscally reckless. I’ve addressed the issue of deficits and debt in the context of tax cuts here and here — making the case that our growing red ink crisis is overwhelmingly attributable to a spending problem, not a revenue shortfall. In any case, Here’s some news The latest CBO report shows that Democrats, unlike Republicans, will not be as eager to promote:
According to the latest CBO report, 156.8 million jobs will be created in America by the end of 2027, which is 2.6 million more than in the June 2017 report.
CBO estimates that the Tax Cuts and Jobs Act will create an average of 1.1 million additional jobs over the next 10 years.
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— JEC Republicans (@JECRepublicans) April 16, 2018
The Congressional Budget Office (CBO) now projects that America will create 156.8 million jobs by the end of 2027, which is 2.6 million more than in the June 2017 Budget and Economic Outlook report. CBO estimates that the recently passed Tax Cuts and Jobs Act will create an average of 1.1 million additional jobs over the next 10 years.
Between the across-the-board tax cuts that benefit the enormous majority of American taxpayers and this good news from the CBO, it seems the name “Tax Cuts and Jobs Act” was apt. And as a reminder, the job creation side of the reform package is largely due to collective tax cuts – which liberals demagogated, even though they are economic in nature wisdom. Recall that Democrats, who unanimously opposed the bill, are vowing to repeal this concrete progress. More than 500 American Companiess introduced up-to-date benefits, bonuses, and pay raises as a direct result of tax reform, helping more than four million U.S. workers. Here’s the latest example of good news that Democrats are eager to cancel:
ARMAGEDDON UPDATE: Major Ohio-based grocery chain announces 11,000 up-to-date jobs, $500 million in employee wage/benefit increases and a significant charitable investment, all thanks to tax reform that Democrats would like to repeal.https://t.co/8iIkvc17vy
— Guy Benson (@guypbenson) April 16, 2018
Kroger announced up-to-date investments in employee benefits, education and wages Monday as retailers around the world spend more on their workers to keep up with a tighter labor market. Last week Kroger said it plans to hire 11,000 up-to-date people, including 2,000 in management positions. At the time, the company said it would invest $500 million in employee compensation, training and development over the next three years. The grocer attributed the investments to larger funds as a result of recent tax law changes. Among the up-to-date initiatives, Kroger is rolling out a Feed Your Future program to support continuing education for all full- and part-time employees after six months of employment.
Under the program, Kroger will offer up to $3,500 per year ($21,000 over the course of employment) to support educational development, such as high school equivalency exams, professional certifications and associate degrees…The company also increased its 401(k) program matching amount to 5 percent, up from the previous level of 4 percent. It is expanding its employee discount program for associate purchases at its stores. It is investing $5 million more in its Helping Hands program, an internal fund designed to aid employees during hard times.
Meanwhile, the president was in Florida yesterday, promote tax lawalongside Senator Marco Rubio. Trump extolled its merits, and Rubio spoke about expanding the child tax credit that he sought to secure in the bill. As we have seen at other similar events, attendees he expressed his gratitude for the positive impact of tax reform on their families’ bottom lines. While elite Democrats turn up their noses at the “breadcrumbs“More and more working people are very joyful with their improved financial situation. Here is a video whole panelCourtesy of the White House:
I’ll leave you with Senate Majority Leader Mitch McConnell. cheering Strong economic trends supported by tax reform, which many Republicans see as their strongest asset in a tough election race:
