[Congressional Record Volume 165, Number 75 (Tuesday, May 7, 2019)]
[Senate]
[Page S2662]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                            Economic Growth

  Mr. President, good news about the economy keeps pouring in. On 
Friday we learned that the economy created an impressive 263,000 new 
jobs in April. Meanwhile, the unemployment rate dropped to its lowest 
level in half a century. The last time unemployment was this low was 
1969.
  Wages are growing at the fastest pace in a decade. April marked the 
ninth straight month that wage growth was at or above 3 percent. 
Economic growth for the first quarter of 2019 was a robust 3.2 percent, 
which completely smashed expectations. Personal income is up, business 
investment is up, and the list goes on.
  Importantly, the benefits of this economic growth are being spread 
far and wide. In fact, blue-collar workers are seeing some of the 
biggest benefits. The Wall Street Journal noted on Friday: ``Believe it 
or not--and liberals won't want to admit it--the evidence is that the 
faster economic growth of the last two years is reducing income 
inequality.''
  Where did all of this growth come from?
  Well, a little over 2 years ago, at the end of the Obama 
administration, the outlook wasn't too rosy. American families were 
struggling. The economy was sputtering. The historically slow recovery 
had left experts predicting that weak economic growth would be the new 
normal. Republicans, however, did not think that we needed to resign 
ourselves to a future of weak growth. We knew that American workers and 
American businesses were as dynamic and creative as ever. We also knew 
that burdensome regulations and an outdated tax code were holding our 
economy back and reducing the opportunities available to workers.
  So when we took office in 2017, we got right to work on improving our 
economy in order to improve life for the American people. We knew that 
our economy needed to thrive if American families were going to thrive. 
We were determined to give Americans access to the jobs, opportunities, 
and wages that they needed for a secure future. So we eliminated 
burdensome regulations that were acting as a drag on economic growth. 
We passed historic reform of our Tax Code to put more money in 
Americans' pockets and make it easier for businesses to grow and to 
create jobs.
  Now we are seeing the results: strong job creation, low unemployment, 
robust economic growth, higher wages, and more. American families are 
feeling the effects.
  Last week, Gallup reported:

       At the start of 2019, Americans' optimism about their 
     personal finances reached levels not seen in more than 16 
     years, as 69% expected that they would be financially better 
     off in a year. . . . A majority of Americans, 56%, rate their 
     current financial situation as ``excellent'' or ``good''. . . 
     . This overall positive rating has increased 10 percentage 
     points since 2015 and is currently the highest since 2002. 
     Likewise, the 57% of Americans who now say their overall 
     financial situation is getting better has risen 10 points 
     since 2016 and is at its highest numerical point since 2002.

  That is from Gallup last week.
  Republicans had one goal with tax reform: Make life better for 
Americans. That is exactly what tax reform is doing. Thanks to tax 
reform, workers have more money in their paychecks; they have better 
access to good jobs with good wages and good benefits; and they have 
better opportunities for advancement.
  I am proud that Republican policies are making life better for 
Americans. We are not stopping here. Republicans will continue to make 
American workers and American families our priority. We are committed 
to making sure that every American has access to a secure, prosperous, 
and hopeful future, which is why I am hopeful that the President will 
soon be able to close the ongoing trade negotiations and create greater 
market access for U.S. exports, especially agricultural exports, which 
will correct trade abuses and kick our economy into an even higher 
gear.
  I yield the floor.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The bill clerk proceeded to call the roll.
  Ms. CANTWELL. Mr. President, I ask unanimous consent that the order 
for the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.