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With Tax Reform, Economic Confidence is on the Rise

January 23, 2018

Speaker Ryan Press Office

We've been a little distracted over the past few days, but now that the government is open, our men and women in uniform are fully funded, and the Children's Health Insurance Program (CHIP) has been reauthorized for six years, we can get back to our favorite subject.

You guessed it--tax reform. And the good news has continued to roll in.

This morning, DTE Energy, a major utility company, announced it would cut energy prices by three percent because of tax reform. That's great news, especially because it serves more than 1.3 million Americans in the Midwest. That's 1.3 million people who will see lower electric and gas bills each month, all thanks to tax reform. This is on the heels of many other major utility companies announcing reduced rates for its customers.

The Republican-championed tax reform law is helping people and the economy. And people are starting to feel it.

'American Satisfaction with Economy Reaches 17-Year High,' says the headline in the Wall Street Journal. Yes, a full 69 percent of people are satisfied with the economy today, according to this Journal/NBC News poll. That's the highest level since 2001, and it comes with more positive movement in favor of tax reform.

Last week, we highlighted two new polls that came out showing support for the new tax reform law has gained major traction among the American people. One showed an 18 point upswing since December and the other showed a whopping 21 point swing. That's even before the story about Apple's reinvestment in the U.S. economy made headlines. Pretty big news.

And in just a little over a week, the new withholding tables due to the reduced rates on the personal side will start to take effect. That means that 90 percent of wage-earning Americans, no matter who they work for, will start to see bigger paychecks. That means more savings for American families.

America's economic confidence is on the rise. And it's not hard to see why.