Now That U.S. Economy Is Booming, Dems Say It�s Not a Key Policy Priority
A telling new survey by the Pew Research Center reveals that Democrats who considered the
economy a top priority under the Obama administration have changed their tune now that the economy
has taken off under Trump.
The results of the survey are stark.
In 2013, an overwhelming majority of the Democratic party (87 percent) said that strengthening
the economy was a top priority, whereas today just 64 percent of Democrats say they consider
the economy a key issue.
Something similar has occurred in Democrats� appreciation for the importance of jobs.
In 2013, 81 percent of Democrats said they viewed improving the nation�s job situation
as a top policy goal, while today just 58 percent of Democrats say this.
Taking the place of the economy and employment among Democrats� top priorities are global
warming and environmental protection.
Today, 68 percent of Democrats and those leaning Democratic say that addressing climate change
should be a top priority for Trump and Congress, Pew found.
By contrast, a scant 18 percent of Republicans and Republican leaners say it is a top priority
A majority of small business owners, 63.8 percent, believe that President Trump�s
policies have helped their business, according to a survey from the Job Creators Network.
More business owners�57.5 percent�believe Republicans do a better job of managing economic
issues than do Democrats (14 percent).
The survey finds the support is likely due to Trump�s ability to roll back regulations
and red tape on businesses.
A majority of businesses also support the tax reform package that was signed into law
and believe media coverage of the proposal was biased.
Sixty-eight percent of small businesses view the legislation favorably or somewhat favorably.
Fifty-eight percent said the Tax Cuts and Jobs Act will benefit their business.
�Since much of the media coverage surrounding the bill has been critical (57.3 percent of
respondents viewed the coverage as biased), these numbers provide insight into what the
biggest job creators in the country are expecting to gain from the new tax relief,� the survey
explained.
Home Depot (HD) announced on Thursday that it will pay its U.S. hourly workers a one-time
bonus of up to $1,000 tied to President Trump�s tax reform.
�This incremental investment in our associates was made possible by the new tax reform bill,�
Craig Menear, chairman and CEO of the company, said in a statement.
The largest U.S. home improvement chain is joining JPMorgan (JPM), Verizon (VZ), Disney
(DIS) and others in adding to employee compensation after President Trump signed a sweeping tax-reform
bill into law.
The Home Depot bonus will be paid in addition to the retailer�s existing bonuses.
It employs more than 400,000 associates
The Trump administration�s tax reforms will accelerate global economic growth, according
to the latest forecast of the International Monetary Fund (IMF).
Total economic output for the world will grow 3.9 percent in 2018 and 2019, after adjusting
for inflation.
That would be the strongest year for global growth since 2011 and represents an upward
revision of 0.2 percent since the IMF�s forecast in October.
When the IMF released its Global Economic Outlook in October, it assumed that U.S. tax
policies would remain unchanged.
In other words, it assumed Republican efforts to pass tax reform would fail.
The changes to the U.S. tax code are expected to be responsible for �about half� of
the upward revision, the IMF.
Much of that will arise from lower corporate income tax rates.
The IMF estimates that lower rates will lead to an acceleration of business investment.
As well, a larger federal budget deficit will stimulate the economy and boost U.S. growth,
according to the IMF
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