Washington, D.C.—Today, the Job Creators Network (JCN) highlights the solid December jobs growth released by the Bureau of Labor Statistics. The report reveals that 148,000 jobs were created last month and the unemployment rate remains at the lowest level since 2000, 4.1 percent. These encouraging indicators demonstrate that the Trump Administration’s policies of deregulation and tax relief for Main Street small businesses and hard-working Americans are spurring growth. In fact, over 2 million jobs have been created in 2017.
Continued indications of strong economic growth are expected in the New Year with the implementation of the Tax Cuts and Jobs Act—which went into effect on January 1st. The tax cuts package creates a 20 percent tax deduction for small businesses, eliminates higher tax brackets in favor of expanded lower ones, and doubles the child tax credit. The bill also included a major cut to the corporate rate—which will allow U.S. businesses to be more competitive abroad. These measures are a win for small businesses and the American people.
A recent op-ed in The Wall Street Journal by Alfredo Ortiz, JCN president and CEO, also highlighted the pressure the tax bill will put on high-taxed states to reduce their own rates. Read the op-ed here.
Alfredo Ortiz released the following statement:
We had a solid finish to 2017 with steady job creation, a low unemployment rate, and a tidal wave of business optimism. But this is only the beginning. The recent implementation of the tax cuts package—passed and signed into law in December—will bring financial relief to millions of small businesses, allowing them to hire more people, raise wages, and expand their business. It will add high-energy fuel to the country’s economic engine and ensure the continued prosperity of all Americans. 2018 is going to be an exciting year for our small business job creators and the people they employ.