- President Trump’s White House put together a list of accomplishments to date from the President’s efforts while in office. The list is a mile long.
- Before the China Virus invaded our shores, we built the world’s most prosperous economy.
- America gained 7 million new jobs – more than three times government experts’ projections.
- Middle-Class family income increased nearly $6,000 – more than five times the gains during the entire previous administration.
- The unemployment rate reached 3.5 percent, the lowest in a half-century.
- Achieved 40 months in a row with more job openings than job-hirings.
- More Americans reported being employed than ever before – nearly 160 million.
- Jobless claims hit a nearly 50-year low.
- The number of people claiming unemployment insurance as a share of the population hit its lowest on record.
- Incomes rose in every single metro area in the United States for the first time in nearly 3 decades.
Delivered a future of greater promise and opportunity for citizens of all backgrounds.
- Unemployment rates for African Americans, Hispanic Americans, Asian Americans, Native Americans, veterans, individuals with disabilities, and those without a high school diploma all reached record lows.
- Unemployment for women hit its lowest rate in nearly 70 years.
- Lifted nearly 7 million people off of food stamps.
- Poverty rates for African Americans and Hispanic Americans reached record lows.
- Income inequality fell for two straight years, and by the largest amount in over a decade.
- The bottom 50 percent of American households saw a 40 percent increase in net worth.
- Wages rose fastest for low-income and blue collar workers – a 16 percent pay increase.
- African American homeownership increased from 41.7 percent to 46.4 percent.
Brought jobs, factories, and industries back to the USA.
- Created more than 1.2 million manufacturing and construction jobs.
- Put in place policies to bring back supply chains from overseas.
- Small business optimism broke a 35-year old record in 2018.
Hit record stock market numbers and record 401ks.
- The DOW closed above 20,000 for the first time in 2017 and topped 30,000 in 2020.
- The S&P 500 and NASDAQ have repeatedly notched record highs.
Rebuilding and investing in rural America.
- Strengthened America’s rural economy by investing over $1.3 billion through the Agriculture Department’s ReConnect Program to bring high-speed broadband infrastructure to rural America.
Achieved a record-setting economic comeback by rejecting blanket lockdowns.
- An October 2020 Gallup survey found 56 percent of Americans said they were better off during a pandemic than four years prior.
- Jobs have been recovered 23 times faster than the previous administration’s recovery.
- Unemployment fell to 6.7 percent in December, from a pandemic peak of 14.7 percent in April – beating expectations of well over 10 percent unemployment through the end of 2020.
- 80 percent of small businesses are now open, up from just 53 percent in April.
- Household net worth rose $7.4 trillion in Q2 2020 to $112 trillion, an all-time high.
Tax Relief for the Middle Class
Passed $3.2 trillion in historic tax relief and reformed the tax code.
- More than 6 million American workers received wage increases, bonuses, and increased benefits thanks to the tax cuts.
- A typical family of four earning $75,000 received an income tax cut of more than $2,000 – slashing their tax bill in half.
- Doubled the standard deduction – making the first $24,000 earned by a married couple completely tax-free.
- Doubled the child tax credit.
- Cut the business tax rate from 35 percent – the highest in the developed world – all the way down to 21 percent.
- Small businesses can now deduct 20 percent of their business income.
- Businesses can now deduct 100 percent of the cost of their capital investments in the year the investment is made.
- Since the passage of tax cuts, the share of total wealth held by the bottom half of households has increased, while the share held by the top 1 percent has decreased.
- Over 400 companies have announced bonuses, wage increases, new hires, or new investments in the United States.
- Over $1.5 trillion was repatriated into the United States from overseas.
- Lower investment cost and higher capital returns led to faster growth in the middle class, real wages, and international competitiveness.
Jobs and investments are pouring into Opportunity Zones.
- Created nearly 9,000 Opportunity Zones where capital gains on long-term investments are taxed at zero.
- Opportunity Zone designations have increased property values within them by 1.1 percent, creating an estimated $11 billion in wealth for the nearly half of Opportunity Zone residents who own their own home.
- Opportunity Zones have attracted $75 billion in funds and driven $52 billion of new investment in economically distressed communities, creating at least 500,000 new jobs.
- Approximately 1 million Americans will be lifted from poverty as a result of these new investments.
- Private equity investments into businesses in Opportunity Zones were nearly 30 percent higher than investments into businesses in similar areas that were not designated Opportunity Zones.
Ended the regulatory assault on American Businesses and Workers.
- Instead of 2-for-1, we eliminated 8 old regulations for every 1 new regulation adopted.
- Provided the average American household an extra $3,100 every year.
- Americans now have more money in their pockets.