Three Surveys from NFIB, NAM, UBS Report Positive Economic Feeling
WASHINGTON, D.C.—Since passage of the Tax Cuts and Jobs Act, the Wheel of Fortune has continued to spin in favor of all Americans. More than 500 companies have announced increased benefits for their employees, 9 out of 10 Americans are seeing an increase in their paychecks under the new tax brackets, and unemployment rates have fallen to a nearly 20 year low. Now, new survey results from small businesses, manufacturers and American investors show that positive results like these from tax reform have led to increased economic optimism across the board.
NFIB (National Federation of Independent Business) found members are extremely optimistic about the economy and have plans to hire or increase benefits for their employees. Read highlights of the survey below or find the full results here.
- The vast majority (76 percent) of small business owners believe the current business climate is heading in a positive direction.
- Three-fourths of small business owners believe the tax law will positively impact their business.
- Eighty-seven percent think the new tax law will have a positive impact on the general economy.
- Forty-four percent plan to increase employee compensation.
- More than one-quarter (27 percent) plan to use the extra savings to add employees.
- 35 percent reported unfilled job openings, the highest reading since 2000
- 72 percent of manufacturers report that they plan to increase employee wages or benefits
- 77 percent plan to hire more workers
- 86 percent have already planned expanded investments
The UBS poll of investors found:
- 60% have a positive outlook on the short-term economy
- 67% have a positive outlook on the long-term economy
- 85% believe the economic fundamentals are strong
- 84% feel very good about their current financial situation
Find the full results of the survey here.
Without a single Democrat vote, Republicans passed the historic Tax Cuts and Jobs Act,and the economy has grown at rates not seen for years. Nancy Pelosi claimed Republican tax cuts would put our economy in ‘Jeopardy,’ but given the results of our pro-growth agenda we ‘Double Dare’ Democrats to double down on her gloom-and-doom rhetoric.