Heading into 2018…

Rachael Slobodien - January 08th, 2018

Only a few days into 2018 and we’re already off to a roaring start.  This week the Dow reached and surpassed the historic mark of 25,000, but that’s only the beginning of good financial news.  The S&P 500 and Nasdaq also reached record highs.

Below we’ve compiled several highlights that demonstrate just how solid the economy is growing under President Trump and the Republican Congress.  No matter how much the mainstream media seeks to underreport it, these numbers don’t lie. 

For example, well over 100 companies have awarded employees with “Trump Bonuses” after tax reform victory.  Not only are we seeing job opportunities increasing, our economy is also witnessing the lowest level of job-layoffs since the 1990s.

It’s worth noting that this may be getting too big for even The New York Times to ignore.  Check out this headline from New Year’s Day: The Trump Effect: Business, Anticipating Less Regulation, Loosens Purse Strings.

In the same vein, CBS News recently released a report on how the tax reform legislation will likely impact different households throughout the country.  Even the CBS analysis showed that each of the three households examined would pay less in taxes as a result of the tax legislation. 

But perhaps the best news is that this is only the beginning of the great things to come as a result of lower taxes and reduced regulations under President Trump.  On the regulatory front, the Trump Administration already has done much to rein in the regulatory state.

For example, in his first year in office, President Trump has:

More is still to come.  For example, a recent analysis shows that our nation’s Gross Domestic Product (GDP) will rise to well above 5 percent!  (This is an additional 2.2 percent growth in the long run). That increase translates to roughly $3,000 per household income increase!  That’s a significant amount for families struggling to make ends meet.  And remember, this is along with increased job opportunities and private-sector bonuses.

But as Club for Growth has been quick to note before, the Tax Cuts and Jobs Act passed last December shouldn’t be viewed as the endgame – rather, it’s just the beginning.

As both the House and the Senate return to Washington next week, Club for Growth encourages Congress to seize this momentum and continue to fight for more pro-growth reforms.

Below we’ve compiled an outline of a few pro-growth starting points for this year, particularly as Congress looks to enact more reforms to grow our economy.  As Club for Growth has noted before, Congress should take up a new tax bill next year, which includes:

  • Having a real 25 percent maximum rate for businesses organized as subchapter S corps or LLCs, rather than artificial exclusions for sectors like financial services, and unfairly excluding 80 percent of business income from the pass-through rate.
  • Making permanent the temporary tax cuts for individuals.
  • Eliminating the Death Tax.
  • Repealing fully the Alternative Minimum Tax.
  • Cutting capital gains taxes to spur individual investments.
  • Repealing fully the taxes in Obamacare.

Ohio Senate Update: Mandel withdraws due to family health issues

CFG PAC Updates - January 08th, 2018

Club for Growth PAC-endorsed candidate Josh Mandel announced he would be withdrawing his candidacy for U.S. Senate.  His announcement came in conjunction with news that Josh’s wife, Ilana, has a health issue that will require his time and attention.  As Josh explained in his statement, ‘Understanding and dealing with this health issue is more important to me than any political campaign.’

It’s with a heavy heart I share Josh’s news with you.  The Club for Growth PAC supports Josh in his decision to do what’s best for his wife and his family.

Club for Growth is grateful for all Josh has done to promote fiscal responsibility and transparency in his service to Ohio, and we have no doubt he would have made a great senator.  Josh is a conservative and a patriot.  Our prayers are with him and his family during this difficult time.

Key Vote Alert – “NO” on Fake Disaster Relief Bill (HR 4667)

Mr. Andrew Roth - December 21st, 2017

KEY VOTE ALERT

“NO” on Fake Disaster Relief Bill (HR 4667)

The Club for Growth opposes the fake $81 billion “disaster” relief bill (HR 4667) and we urge all members of Congress to vote NO on it.  A vote is expected this week in both chambers.  The vote will be included in the Club’s 2017 congressional scorecard.

Once again, Congress is trying to ram through a huge spending bill with little warning, claiming that offsets are not needed because it’s an “emergency”.  Strangely, of the $81 billion authorized under this bill, only $11 billion will be spent in 2018.  The rest is spent over the next several years.  This begs the question, “Is this money really being spent on the immediate relief of disaster victims?”  Some of this long term spending is focused on NASA research and economic development programs that conservatives have long opposed.  It also allows cotton growers to enter into long-term entitlement programs.

This profligate spending needs to stop.  This bill further proves that politicians addicted to more spending with little accountability use the “emergency” designation to obfuscate their fiscal irresponsibility.  In practice, the designation is meaningless.  Members of Congress who profess to support limited government should oppose this bill.

Finally, if HR 4667 is folded into any other bill to ensure that bill’s passage, we will score against it as well.

Our Congressional Scorecard for the 115th Congress provides a comprehensive rating of how well or how poorly each member of Congress supports pro-growth, free-market policies and will be distributed to our members and to the public.

Club for Growth PAC Endorses Rick Saccone for Congress

Rachael Slobodien - December 19th, 2017

Washington, DC – Today, the Club for Growth PAC announced its endorsement of Rick Saccone for the U.S. House of Representatives.  Saccone is running for the open seat vacated earlier this year by Tim Murphy (PA-18).

“Club for Growth PAC is proud to endorse Rick Saccone in his run for Congress,” stated Club for Growth PAC President David McIntosh.  “Rick is a constitutional conservative who supports lower taxes, repealing Obamacare, and limiting the size of government.  In his time serving in the General Assembly, Rick has proven to be a strong conservative voice and been a strong advocate for Pennsylvania’s taxpayers.”

 

Paid for by Club for Growth PAC and not authorized by any candidate or candidate’s committee. 202.955.5500

Club for Growth’s Statement on the Tax Cuts and Jobs Act

Rachael Slobodien - December 19th, 2017

Club for Growth’s Statement on the Tax Cuts and Jobs Act

Washington, DC – Today, Club for Growth President David McIntosh offered the following statement ahead of votes in the House and Senate on H.R. 1, “The Tax Cuts and Jobs” Act:

“Club for Growth congratulates members of the House and Senate conference committee for their work in delivering strong pro-growth tax reform the American people,” stated David McIntosh.

“The tax reform bill will unleash great economic growth and prosperity.  And while this legislation embodies the most significant changes made to our tax code in thirty years, there’s no reason we have to wait for another thirty years to enact additional reform.

“In fact, with respect to the individual and major pass through businesses, this bill falls far short of pro-growth expectations.  For that reason, Congress should take up a new tax bill next year to complete the work by:

  • Having a real 25 percent maximum rate for businesses organized as subchapter S corps or LLCs, rather than artificial exclusions for sectors like financial services, and unfairly excluding 80 percent of business income from the pass-through rate.
  • Making permanent the temporary tax cuts for individuals.
  • Eliminating the death tax.
  • Repealing fully the Alternative Minimum Tax.
  • Cutting capital gains taxes to spur individual investments.
  • Repealing fully the taxes in Obamacare.