Brady Lauds Strong Year of U.S. Economic Growth
Washington, D.C. – Today, the top Republican on the House Ways and Means Committee Kevin Brady (R-TX) issued the following statement after the Bureau of Economic Analysis released its report on Gross Domestic Product (GDP) in the fourth quarter of 2018:
“Before tax reform, Democrats throughout Washington, D.C. told the American people that slow growth was the new normal for our economy. Thankfully, for workers across the country, they were wrong.
“Today’s report shows that in 2018, our economy grew at its strongest rate in 13 years – clocking in annually at 2.9 percent and rising 3.1 percent from the previous fourth quarter. In addition to the fastest level of wage growth in over a decade, record low unemployment for folks from all walks of life, and soaring state revenues, business investment was also strong in this report, setting the stage for even faster wage growth for our workers.
“This is what happens when families have first say over their money and when our job creators are armed with a tax code that lets them compete and win here at home. This tax code was built for the long term, and I still believe the best is yet to come.”
NOTE: Real GDP increased at an annual rate of 2.6 percent, beating expectations, in the fourth quarter of 2018.