The House’s top tax writer said Friday that the modest gains in U.S. jobs last month was just a primer for the economic growth expected when the new tax cuts kick in.
“With a new tax code that’s built for growth, 2018 stands to be an even better year for creating good-paying jobs, increasing paychecks, and helping our businesses compete and win here at home and around the world,” said House Ways and Means Committee Chairman Kevin Brady.
The Texas Republican said the 148,000 jobs added in December, although fewer than economists expected, capped a year of steady job growth.
Congress last month passed the GOP tax cuts that reduced rates for individuals and businesses, nearly doubled the standard deduction for workers and families, and gave corporations incentives to bring home cash that has been parked overseas to avoid high taxes.
“The Tax Cuts and Jobs Act is already making a meaningful difference in people’s lives as businesses across the country announce more bonuses, higher wages, and investments in growing their workforce as a result of the new law,” said Mr. Brady. “I’m confident this trend will continue as job creators experience the full effects of our new tax code.”
The Department of Labor announced Friday that U.S. employers added 148,000 jobs in December and the unemployment rate remained unchanged for a third consecutive month at 4.1 percent.
The unemployment rate remained at the lowest level since 2000.
• S.A. Miller can be reached at smiller@washingtontimes.com.
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