AMERICAN WORKERS ARE GROWING THE ECONOMY
- President Trump is committed to rebuilding the economy that Joe Biden and Democrats destroyed when inflation reached 9.1%.
- Today’s jobs report blew past expectations with the economy adding 165,000 jobs in October.
- The economy saw gains in multiple sectors including manufacturing, professional and business services, private education and health services, and transportation and warehousing.
- GDP rose 3.4% during the third quarter, the fastest pace in a year, beating expectations.
- The economy has added over 1.2 million private sector jobs since President Trump took office.
- Federal government employment is down by 333,000.
- Since President Trump took office, 1,548,000 native-born Americans have gained employment.
- 1,278,000 native-born Americans have also joined the labor force.
- The unemployment rate dropped to 4.1%.
- The unemployment rate fell from the prior month for Asian Americans, black Americans, and veterans.
WAGES AND PAYCHECKS ARE INCREASING UNDER PRESIDENT TRUMP
- Average hourly earnings rose 0.4% in October.
- Average hourly earnings are up 3.1% from one year ago.
- Thanks to the Working Families Tax Cuts, the average tax refund was up almost 11% from one year ago.
- 97% of Americans received a tax cut this year.
- Because of no tax on tips, overtime, and Social Security, the average tax refund was over $3,400 this year.
- Americans earning $15,000-$80,000 per year are receiving an average tax cut of 15%.
- Average tax refunds were up 24% compared to the four-year refund average under Joe Biden.
- The average tax rate fell 4% compared to the previous tax year.
- Personal Income increased by nearly $55 billion in September.
- Real earnings for private-sector workers outpaced inflation by nearly $1,400 during President Trump’s first year in office.
TRILLIONS OF NEW INVESTMENTS IN AMERICA ARE CREATING NEW JOBS
- President Trump has secured trillions of dollars’ worth of investments, creating good paying American jobs.
- In October alone:
- Becton, Dickinson and Company (BD) announced a $19 billion investment across the U.S. over several years to expand U.S. manufacturing.
- Audi is investing $4 billion to build the first Audi manufacturing plant in Georgia, creating approximately 4,500 jobs.
- Anduril will invest $3.7 billion in a government partnership to build Virginia-class submarines in Baltimore County, Maryland, creating 3,100 jobs.
- U.S. Steel is investing nearly $3 billion to build a new hot strip mill near Pittsburgh, Pennsylvania.
- Westinghouse is investing approximately $1 billion to construct a new nuclear fuel facility in Hopkins, South Carolina.
- Orders for business equipment rose by 1.8%, beating expectations.
- For the tenth month in a row, the manufacturing sector grew.
- Manufacturing employment grew for a fourth straight month.
PRESIDENT TRUMP IS LOWERING PRICES
- President Trump is bringing down prices after record-high inflation under Joe Biden.
- Many common household staples have seen prices fall since President Trump took office, including flour, white bread, bacon, butter, ham, pork chops, American cheese, ice cream, strawberries, tomatoes, and eggs.
- Private companies are responding to President Trump’s call to deliver price reductions on everyday goods and services for Americans:
- Walmart has lowered prices on thousands of everyday items.
- Costco dropped prices on many of its most popular Kirkland products.
- Kroger slashed prices on thousands of items.
- Giant Eagle dropped prices by an average of 10% of more than 300 products.
DRUG COSTS ARE FALLING AT HISTORIC RATES
- Thanks to President Trump, prescription drug prices have fallen 4.5% over the last year, while over-the-counter medications have dropped 0.9%.
- Last year, President Trump signed an executive order establishing Most-Favored-Nation drug pricing, which forces drug companies to lower prices so Americans can pay a fair price for their prescriptions.
- President Trump demanded leading pharmaceutical manufacturers to outline how they will bring down the cost of prescription drugs to match the lowest price of other nations.
- Americans will now pay the lowest cost for prescription drugs that other nations have been paying.
- The president has been able to secure deals with 26 major pharmaceutical companies including covering 89% of the brand-name drug market.
- TrumpRx is a direct-to-consumer government website allows Americans to purchase dozens of popular prescription drugs at a discounted price negotiated by the government.
- Americans can print coupons or download them to their phones which can be used at pharmacies for reduced drug costs.
- TrumpRx has already helped Americans save $700 million. Medications that are more affordable include:
- Plavix, a blood thinner to prevent blood clots and manufactured by Sanofi, fell by 98%.
- Combigan, an eye drop medication manufactured by AbbVie, fell by 95%.
- Mayzent, a multiple sclerosis (MS) medication manufactured by Novartis, fell by up to 93%.
- Cetrotide, an injectable fertility medication manufactured by EMD Serono, fell by 93%.
- President Trump announced Medicaid programs in all 50 states will receive most favored nation drug prices, saving state governments $27.6 billion.
- President Trump announced a $2 billion payment from the Medicare Improvement Fund, which will be distributed among 20 million enrollees to pay for Medicare Part B premiums.
- Medication costs for arthritis, obesity, infertility, and other chronic conditions will all be lowered.
- These deals with major pharmaceutical companies could save the economy $529 billion over the next ten years.
BUYING AND RENTING A HOME IS BECOMING MORE AFFORDABLE
- Median asking rent prices are down year-over-year for 38-straight months.
- Median list price was down 2.2% compared to one year ago
- The number of homes available for sale increased 7.4% compared to one year ago, giving buyers more than 1.18 million listings to choose from.
DEREGULATION IS SAVING MONEY FOR THE AMERICAN TAXPAYER
- President Trump is slashing red tape to help Americans save money.
- The President’s regulatory efforts are expected to save over $5 trillion for American families and businesses.
- This past December, President Trump ended the Biden-era emissions standards which led to higher costs for vehicles.
- This move will save American families $109 billion over the next five years.
- President Trump also eliminated the Obama-era “Endangerment Finding” which allowed unelected bureaucrats to impose trillions of dollars of hidden costs on American families.
- This deregulation action will save American taxpayers over $1.3 trillion.
- President Trump also repealed the Biden-era Carbon Pollution Standards for Fossil Fuel-Fired Electric Generating Units, reducing the costs of transportation, heating, utility, farming, and manufacturing.
- This deregulation will save businesses approximately $280 billion over the next 20 years.
- President Trump rescinded 80% of regulations tied to the National Environmental Policy Act, significantly reducing delay and costs for projects on public lands, while retaining considerations for protecting the environment.
- President Trump issued a series of waivers extending the sale of E15 gasoline, a higher-ethanol blend from American crops, lowering costs for consumers and increasing ethanol demand.
- President Trump protected America’s Farmers’ right to repair their own farming, saving farmers $33,000 per repair on average.
REPUBLICAN STATES ARE LEADING THE CHARGE
- 15 of the top 19 states with the lowest unemployment rates are led by Republican governors.
- Meanwhile, 11 of the 12 states with the highest unemployment rates are led by Democrat governors.
This article originally appeared here.
