17 Tax Reform Numbers You Need To Know

May 31, 2018 | COMMUNICATIONS •

Six months after President Trump signed the Tax Cuts & Jobs Act into law, business investments are strong, wages are growing, consumer confidence is soaring, and unemployment is dropping.

And you don’t have to take our word for it. See the proof right here.

Here are 17 numbers resulting from tax reform:

  1. 3.8  – Percentage of Americans unemployed (versus 9.9 percent in 2010), which is the lowest level in nearly 20 years.
  2. 6.6 – Percentage of  black and Hispanic Americans unemployed – which is the lowest point on record for these demographics.
  3. 67 – Percentage of Americans who agree now is a good time to find a quality job.
  4. 3.25 – Percentage at which small business wages grew in the month of April – this is the highest rate in more than two years.
  5. 86 – Percentage of manufacturers reporting they’ve made plans to increase investments thanks to tax reform.
  6. 93 – Percentage of manufacturers reporting a positive outlook for their companies and the economy.
  7. 77 – Percentage of manufacturers reporting they already plan to increase hiring thanks to tax reform.
  8. 72 – Percentage of manufacturers reporting that they plan to increase wages or benefits for their workers
  9. 48 – Number of states in which utility companies have announced plans to pass down Tax Cuts & Jobs Act savings to customers.
  10. 87 million – Customers who will benefit from the tax savings being passed down by the aforementioned utility companies.
  11. 218 billion – The surplus for the American government in the month of April 2018. Recorded as “the best month in history” for the U.S. budget.
  12. 58 – Percentage of small business owners who’ve said tax reform has been a “game changer for small business overall”
  13. 63 – Percentage of small business owners who said the new tax law makes them more optimistic about their business outlooks.
  14. 540 – Number of businesses passing down savings to employees through bonuses, expanded benefits, and other means.
  15. 4 million – Workers who have already seen the benefits handed down thanks to the Tax Cuts & Jobs Act
  16. $4 billion – Amount in bonuses being handed out to workers thanks to the Tax Cuts & Jobs Act.
  17. 90 – Percentage of Americans who will see bigger paychecks because of the new tax cuts.

As you can see, the Tax Cuts & Jobs Act has brought tremendous economic growth to America. Our economic momentum is leading to higher wages, more productivity, and so much more.

Naysayers will continue their beat of misinformation and fearmongering, but as the above numbers are proving time and time again: America is better off with the new tax code in place.

And it’s not just in the numbers. Americans in all age, income, and education groups are decidedly more positive about the job market now than before. This confidence will only continue to spur economic growth and success.

More job. Fairer taxes. Bigger paychecks.

The Tax Cuts & Jobs Act is delivering on every front.