Jim Banks: “I thank my friend, Chairwoman Brooks, for her attention to the positive effects of tax cuts on our Nation's economy…”

“I thank my friend, Chairwoman Brooks, for her attention to the positive effects of tax cuts on our Nation's economy, especially back home in Indiana. Mr. Speaker, when this body was debating the Tax Cuts and Jobs Act, we were told that 3 percent growth was impossible. We were told that the middle class and small businesses would not see any benefits. And we were told that manufacturing jobs would never come back. Mr. Speaker, all of these so-called experts were dead wrong. Since December, the U.S. economy has been growing at 2.9 percent and the Atlanta Federal Reserve bank estimates that growth this quarter will exceed 4 percent. This is hardly the ``secular stagnation'' that so many on the left insisted was the inescapable future for the U.S. economy. The bottom line is this: the Tax Cuts and Jobs Act has unleashed record growth by lowering taxes on America's families and businesses. When I am back home in northeast Indiana, I am constantly hearing good news as a result of tax reform. In Bluffton, 20/20 Plastics is increasing annual wages by $1,200 and looking to invest in new manufacturing facilities in 2019. In Fort Wayne, Quake Manufacturing is adding $1,000 bonuses and dental insurance for its employees. Hoosiers across northeast Indiana have experienced the benefits just from turning on their lights, as Northern Indiana Public Service Company requested that customers' utility rates be lowered.…”