Economy Continues to Expand, Tax Cuts Needed to Keep Momentum

New poll shows small businesses will boost the economy if taxes are cut

August 4, 2017

Atlanta—Today, the Job Creators Network (JCN) highlights the economic expansion revealed in today’s jobs report from the Bureau of Labor Statistics. It reveals that 209,000 jobs were created last month and the unemployment rate dropped even further to 4.3 percent. These figures follow several months of economic growth under the new administration.

As the economy continues to become stronger, it’s going to become much more difficult to continue the positive trend. So to keep the economy growing and robust, JCN is calling on lawmakers to provide tax relief for the country’s biggest job creators—small businesses. In fact, a new nationwide poll of small business owners conducted by JCN reveals that a majority of respondents would use the savings from a tax cut to expand their business. That means hiring more people, opening more locations, and raising wages—all things that will contribute to continued economic expansion.

An op-ed by the former Speaker of the House, Newt Gingrich, and former Best Buy CEO and JCN member, Brad Anderson, ran in USA Today on Wednesday arguing this very case. Read the full op-ed here.

Alfredo Ortiz, JCN President and CEO, released the following statement:

Under the Trump Administration, the economy has been doing well—the unemployment rate has dropped, job creation is on the rise, and the markets are booming. But without new stimulus, this growth will not last forever. To keep the momentum of economic expansion moving, lawmakers in Washington need to address the millions of small business owners and their employees that have endured years of overtaxation. By allowing them to keep more money in their pockets, businesses will expand, jobs will be created and wages will rise.