Congressman Steve King

Representing the 4th District of Iowa

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King: “4.1% GDP is proof that the Tax Cuts and Jobs Act is working.”

Jul 27, 2018
Press Release

Washington, D.C.- Congressman Steve King, a member of the House Committee on Small Business,  releases this statement following the announcement that in the second quarter the nation’s Gross Domestic Product (GDP) growth has surged to 4.1%. The GDP is a measure of the monetary value of all the finished goods and services produced within a country's border. King attributes the surge in GDP growth to two primary factors: 1) enactment of the Tax Cuts and Jobs Act he voted for and 2) the Trump administration’s focus on eliminating costly and burdensome federal regulations.

“Today’s announcement of 4.1% second quarter GDP growth is proof that the Tax Cuts and Jobs Act is working for Americans,” said King. “I predicted that today’s GDP announcement would be over 4%, and I did so because I understand the fundamental strength of our economy when we cut taxes and eliminate regulations. We should work on making the tax cuts permanent so we can continue to carry this momentum forward. With today’s number, the ‘best vote I have cast in Congress’ keeps getting better all the time, and only the most stubborn leftist could dispute this fact.”

Background:

In December, King described the Tax Cuts and Jobs Act as “an early Christmas present to American taxpayers.” At that time, King stated “When this bill becomes law, the American economy will be poised to have both a Happy New Year and a Happy New Decade of 3% GDP growth or more.” Today’s GDP announcement provides evidence that the economy is responding positively to the newly enacted tax cuts and is well on its way towards achieving this target.

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