WASHINGTON, D.C. – Today, House Ways and Means Committee Chairman Kevin Brady (R-TX) issued the following statement after the Bureau of Economic Analysis released its report on GDP in the second quarter of 2016.
“For the last seven years, hardworking Americans have had to suffer through the worst economic recovery since the end of World War II. After last quarter’s disappointing GDP growth, this surprisingly weak quarter hardly inspires confidence that our economy will reach its full potential anytime soon. It’s no wonder the White House had to downgrade its projections for economic growth over the coming decade.
“Americans deserve better than the anemic growth they’re getting today. That’s why House Republicans are proposing a better way: a 21st century tax code built for growth. Our bold, innovative ideas will ensure our economy leads in the global market for the long term — unleashing job creation, increasing take-home pay, boosting investment, and improving lives. That’s the growth Americans deserve and that’s the growth we will deliver.”
NOTE: Real Gross Domestic Product (GDP) increased at an annual rate of 1.2 percent in the second quarter of 2016.