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 first quarter of 2016.
“The Obama Administration’s record of 2 percent growth is dismal – but a mere 0.5 percent growth in the first quarter is a real wake up call. Today’s report is further proof that the President’s economic policies are moving America in the wrong direction. We cannot afford to continue at this pace because weak economic growth makes it harder for Americans to get a raise, pay their bills, and provide for their families.
“As the Administration spends its final year promoting policies that discourage innovation and job creation, the Ways and Means Committee continues to work on an agenda that will grow our economy and help people. We are working to spur investment in our communities and expand opportunities for American families, workers, and employers.”
NOTE: Real Gross Domestic Product (GDP) increased at an annual rate of 0.5 percent in the first quarter of 2016.