It’s often said that small businesses are the backbone of America. But big government hasn’t always done all it can to make things simpler for these smaller enterprises. Fortunately, the Tax Cuts and Jobs act has changed that for small business owners across the country.
After years of stagnation a mother daughter business that started in their garage is finally getting a break. The TCJA cut their rates, which allowed them to increase wages, ramp up employment, and grow their product line. All of this has helped them make significant investments in the family business and allowed them to give back to their community.
This is one of thousands of real life stories of people benefiting from the TCJA. Small businesses have been able to hire people at the highest level in 45 years, meaning more jobs and better wages.
Thanks to the TCJA Unemployment is at its lowest level since 1969 at 3.6 percent. In April alone, the U.S. economy added 263,000 new jobs. On top of that, America’s first quarter GDP grew by 3.2 percent; marking the first growth over 3 percent since 2015. Finally America is looking out for small business owners and ushering in a new era of economic growth.