Political Quotes

“Mr. President, as my colleague from Pennsylvania has pointed out, the recently passed tax bill is already having a profound impact on the economy, and, as the Congressional Budget Office report points out, over the course of the next decade, it will significantly increase economic growth in the economy and increase the number of jobs. It said that over 1 million jobs would be created as a result of the passage of the tax bill. To his point, as well, they talk about deficits and debt projected out into the future, which clearly are major issues but, again, I would point out, are a result of the rate of growth in spending and not of the impact of the revenues generated by lowering taxes because when you get greater growth in the economy, it means that more people are taking realizations and more people are paying taxes. The Congressional Budget Office, as a rule of thumb, suggests that for each percentage--a 1- percent increase in growth of the economy--you get about $3 trillion in additional revenue over the course of a decade.…”