Trump Tax Reform

“TAX REFORM WILL GIVE WORKERS A RAISE”

– Lawrence Lindsey, The Wall Street Journal

Lawrence Lindsey, president and CEO of the Lindsey Group, writes in the The Wall Street Journal that if President Trump’s tax reform package passes through Congress, “we can expect economic growth to accelerate to roughly 3.2% for the next three to five years,” which history suggests will ultimately result in higher “real” wages for workers. The bill also encourages entrepreneurship and small-business formation, “the ultimate driver of productivity growth,” Lindsey remarks before commenting that a “rise in real wages” would “lead to the first sustained decline in income inequality in more than 40 years.” If the plan passes, “The American economy will finally start working in the interest of the great middle class and not simply those at the top,” Lindsey concludes.
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On the tax reform push, Laura Olson of The Morning Call reports President Trump will pitch his tax plan to “roughly 1,000 people, including lots of truckers,” in Harrisburg, PA on Wednesday. The President plans to speak about how his plan “will benefit truckers by lowering their tax rates, boosting manufacturing, and making it easier for families to pass their trucking business onto their children,” Olson writes.

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Regarding the need for a tax overhaul, U.S. Treasury Department Assistant Secretary for Public Affairs Tony Sayegh writes in Wisconsin Business Voice that “it is time for lawmakers to put partisanship aside and come together to get our economy and wages growing at a much faster rate,” calling President Trump’s tax plan a “once-in-a-generation opportunity” to put “America first.”

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And in the Washington Examiner, Joseph Lawler reports President Trump’s tax reform plan looks to “increase the typical family’s earnings by $4,000,” an estimate that remains consistent with his argument that lowering the corporate tax rate and reforming corporate taxes will raise earnings for the American people.

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In labor news, Andy Puzder, opinion contributor at The Hill, comments that the 16-year low unemployment rate of 4.2 percent is a result of President Trump’s deregulation efforts, which have led to “businesses across the country are [sic] hiring and more Americans are [sic] working better jobs for higher pay.”

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