Skip to main content

tv   U.S. Senate Sen. Thune on Jobs the Economy  CSPAN  June 19, 2018 7:51pm-8:01pm EDT

7:51 pm
it's time that this senate have its conscience -- that it moves to action and challenges the president on this horrific policy. i yield the floor. >> republican senator john thune who chairs the commerce committee spoke about the economic progress the country has made over the last year. >> mr. president, the good economic news keeps pouring in. cnbc reports that economic growth for the second quarter of 2018 is and i quote on track to double 2017's full year pace, end quote. in april, for the first time since the bureau of labor statistics began tracking the data, the number of job openings outnumbered the number of job seekers. in may unemployment dropped to its lowest level in 18 years. wages are growing at the fastest
7:52 pm
rate since july of 2009. retail sales are up significantly and small business optimism has hit its second highest level ever. a recent survey from the national association of manufacturers reported that 77% of manufacturers plan to increase hiring as a result of tax reform. 72% plan to increase wages or benefits. and 86% report that they plan to increase investments which means new jobs and opportunities for workers. that's a lot of numbers. but they all boil down to one thing, mr. president, and that is that life is getting better for american families. yesterday the "wall street journal" reported, and i quote, economic confidence among lower income americans has taken a recent leap. the latest evidence that benefits of the economic expansion are reaching a broader swath of workers, end quote. mr. president, if there's one thing that's needed to help
7:53 pm
people achieve the american dream, it's a thriving economy. what do people think about when they think about the american dream? they dream about starting a business from their kitchen table and growing it into a thriving enterprise. they dream about a secure job that will allow them to own a nice home, plus have extra to take the kids to the beach each year and save money for education, retirement, and those unexpected expenses. they dream about landing a job at their dream company and working their way up the ladder to the top. they dream about fulfilling work that can turn into a fulfilling career. and they dream about a secure retirement with extra money to treat the grand kids. mr. president, those are the types of things that americans dream about when they think about the american dream. well, it's pretty hard to accomplish any of those dreams if the economy is stagnant or struggling. it's pretty hard to work your way up the ladder if your
7:54 pm
company is having to lay people off. it's hard to buy a house or to save for the kids' college if you don't have anything left over once you've paid the bills. mr. president, during the last administration, the economy did not thrive. and as a result, american families struggled. and so when president trump took office, republicans and president trump made reversing our economic decline a priority. perhaps the two biggest drags on our economy during the obama administration were burdensome regulations and an outdated tax code. and so we took immediate action to roll back burdensome obama administration regulations and we got to work on reforming our outdated tax code. and six months ago, this week, we passed historic tax reform. before the tax cuts and jobs act, the tax code was not helping businesses grow and create jobs.
7:55 pm
in fact, it was doing the opposite. and that had real consequences for american workers. a small business own earl struggling to -- a small business owner struggling to afford the hefty annual tax bill for her business was highly unlikely to be able to hire a new worker or to raise wages. a larger business struggling to stay competitive in the global marketplace while paying a substantially higher tax rate than its foreign competitors too often had limited funds to expand or increase investment in the united states. and so we took action to improve the playing field for american workers by improving the playing field for businesses as well. to accomplish that, we lowered tax rates across the board for owners of small and medium sized businesses, farms and ranches. we lowered our nation's massive corporate tax rate, which up until january 1st, was the highest corporate tax rate in
7:56 pm
the developed world. we expanded business owners' ability to recover investments they make in their businesses which frees up cash that they can invest, reinvest in their operations and their workers. and we brought the u.s. international taxes into the 21st century so american businesses are not operating at a disadvantage next to their foreign competitors. and now we are seeing the results. companies have announced higher wages, better retirement benefits, bonuses, increased investment, new jobs, and more. as i mentioned above, 77% of manufacturers plan to increase hiring as a result of tax reform. and 72% plan to increase wages or benefits. meanwhile, at the end of may, the national federation of independent business reported
7:57 pm
that a record high percentage of small businesses had increased compensation for employees. then there are the 100 plus utility companies that are lowering rates as a result of tax reform. the companies boosting their education benefits to help employees g et the skills they need for successful careers. the companies expanding parental leave benefits, the low unemployment rate, the pace of wage growth, and so much more, mr. president. in short, as i mentioned earlier, life is getting better for american families. opportunities are expanding. paychecks are increasing. wages are growing. benefits are growing. and that means more families are able to afford those car repairs or that down payment on a house. more families are able to set aside money for their kids' education, and more families are
7:58 pm
able to boost their retirement contributions. more families are looking forward to a secure future. mr. president, i'm proud of the benefits that the tax cuts and jobs act is delivering for american families. and i'm going to keep working for policies that will expand opportunities for families in this country, even further. mr. president, i yield the floor. i suggest the absence of a quorum. >> this weekend on after words, maryland congressman john delaney, the first democrat to declare a run for the presidency in 2020 offers his vision for america in his book "the right answer, how we can unify our divided nation". he's interviewed by donna brazil, former xhar of the democratic national -- former chair of the democratic national committee. >> you have been a ebb many of congress now since -- you have been a member of congress now
7:59 pm
since 2013. you have had an opportunity to work with democrats and republicans. you also in the book call for an end to partisanship, especially partisanship that rewards division. what do you mean by that? >> i think every president should represent everyone, whether they voted for them or not. they should take a pledge to never divide us. that doesn't say why they shouldn't say why my ideas are better than the other persons ideas. or the future i am envisioning is better than the other person is. but taking to it the step where you are actually kind of cultivating a spirit of division is i think one of the things that's going on in this country right now which is really insidious. i do think if you have the privilege of serving which i feel like i do, we should all in addition to swearing to defend and protect the constitution, we really should pledge to the american people that we're not
8:00 pm
going to say things to divide us. that we're going to go out of our way to try to unify the country because the country is inherently stronger when we're unified. >> watch after words, sunday night at 9:00 eastern on c-span 2's book tv. :: >> the house budget committee

1 View

info Stream Only

Uploaded by TV Archive on