Washington, DC - President Trump Restores Confidence in the American Economy:
“We’re going to win economically; we’re going to win with the economy.” – Donald J. Trump
BUILDING CONFIDENCE IN THE AMERICAN ECONOMY: Since President Donald J. Trump’s election, economic indicators have responded with record confidence to his pro-growth agenda.
- Today, the National Association of Manufacturers released its Manufacturers’ Outlook Survey showing the highest level of optimism in 20 years.
- The Dow Jones Industrial Average is up over 12 percent since Election Day 2016.
- The Weekly Gallup Economic Confidence Index turned positive shortly after the President’s election and has remained positive for 19 consecutive weeks.
- The Business Roundtable’s CEO Economic Outlook Index recently jumped 19 points, the largest jump since 2009.
- The National Association of Home Builders Confidence Index currently is at its highest level in 12 years.
- The Gallup Small Business Index reflects the most optimistic small business owners have been since July 2007.
- The Conference Board Consumer Confidence Index recently soared to its highest level in more than 16 years.
- The American Dream Index recently rebounded to 100.5, up from a 12-month low point in December, the final full month of the Obama administration.
EARLY PROGRESS: In just the first full month of President Trump’s Administration, the United States economy has already made promising strides in the job market.
- In February, the President’s first full month in office, the U.S economy created 235,000 new jobs.
- 58,000 new construction jobs were created.
- 28,000 new manufacturing jobs were created.
- In February, the U.S. unemployment rate fell to 4.7 percent.
- In February, the U.S. labor force participation rose to 63 percent.
- In February, long-term unemployment in the U.S. fell by 49,000.
IMPLEMENTING JOB CREATING POLICIES: President Trump is executing an agenda that favors the American worker.
- President Trump signed a Presidential Memorandum creating the White House Office of American Innovation, which will implement policies and scale proven private-sector models to spur job creation.
- President Trump ordered the United States to withdraw from the Trans-Pacific Partnership agreement and negotiations.
- President Trump initially signed a Presidential Memorandum to clear roadblocks to construction of the Keystone XL pipeline and recently his Administration formally approved the project.
- President Trump signed a Presidential Memorandum declaring that the Dakota Access pipeline serves the national interest and is being prepared to be put into service.
- President Trump signed a Presidential Memorandum to help ensure that new pipeline construction and repair work uses materials and equipment from the United States.
CUTTING GOVERNMENT RED TAPE: President Trump has quickly taken steps to get the Government out of the way of job creation.
- President Trump signed an Energy Independence Executive Order to help eliminate burdensome regulations on America’s energy industry.
- President Trump directed each agency to establish a Regulatory Reform Task Force to identify costly and unnecessary regulations in need of modification or repeal.
- President Trump has required that for every new Federal regulation, two existing regulations be eliminated.
- President Trump directed the Department of Commerce to streamline Federal permitting processes for domestic manufacturing and to reduce regulatory burdens on domestic manufacturers.
- President Trump signed legislation, House Joint Resolution 38, to prevent the burdensome “Stream Protection Rule” from causing further harm to the coal industry.
- President Trump ordered the review of the “Clean Water Rule: Definition of Waters of the United States,” known as the WOTUS rule, to evaluate whether it is stifling economic growth or job creation.
PARTNER OF THE PRIVATE SECTOR: President Trump has worked hand-in-hand with the private sector to get companies re-investing in America.
- Exxon Mobil Corporation announced a $20 billion investment in the United States, which will create more than 45,000 jobs.
- Charter Communications announced a $25 billion investment in the United States, and that it will hire 20,000 American workers in the next four years.
- Accenture announced the creation of 15,000 new high skilled jobs in the next four years and a $1.4 billion investment in training its own employees.
- Intel announced a $7 billion investment in a new factory in the United States, supporting over 10,000 jobs.
- Fiat Chrysler announced a $1 billion investment to modernize two plants in the United States, creating 2,000 jobs.
- General Motors announced plans to invest $1 billion in the United States, creating over 1,000 new jobs.
- Ford announced the cancelation of a plant in Mexico, while adding 700 jobs in Michigan.
FOLLOWING THROUGH FOR THE AMERICAN PEOPLE: President Trump campaigned on jumpstarting the economic engine of America so businesses could grow and Americans could get back to work.
- As a candidate, Mr. Trump promised “I am going to bring back the jobs that have been stripped away from you and your country.”
- As a candidate, Mr. Trump promised “we will make America the best place in the world to start a business; we’ll hire workers, and we’ll open factories.”
- As a candidate, Mr. Trump promised “we will also get rid of wasteful rules and regulations, which are destroying our job-creation capacity.”