By Alberto Moore
As the U.S. economy recovers from the COVID-19 health emergency, it’s easy to forget where we were just one year ago. Before the unprecedented pandemic, Americans were experiencing even more unprecedented economic growth that could be felt across socioeconomic lines.
We cannot forget just how powerful the Trump economy was for low-, medium-, and high-income Americans. Small business owners like myself and our employees were prospering, due to the tax cuts and regulatory rollbacks that Republicans put in place. Under the Trump administration, the unemployment rate dropped to a low of 3.5 percent. In Arizona, the unemployment fell to 4.5 percent.
At the same time, job creators were adding thousands of new career opportunities to the state economy. This was in part due to President Trump’s Tax Cuts and Jobs Act (TCJA), which directly benefited countless small business owners and their workers, in the form of new hires, pay raises, utility rate reductions, and more. In Arizona, nearly 484,000 households were helped by the TCJA’s doubling of the child tax credit, while millions of households benefited from the new tax law’s doubling of the standard deduction. This is not just the “one percent;” we all benefited.
Put another way: Every income group in every Arizona congressional district received a tax cut. Indeed, the prosperity of the Trump economy before the pandemic was felt in a wide range of communities—no matter the race or ethnicity. Black and Hispanic unemployment dropped to a record low. That’s a big deal.
That’s the beauty of the Trump economy. Before the pandemic, President Trump’s brand of limited government gave all Americans an opportunity to succeed and thrive in their everyday lives, with financial security on the rise and optimism at record highs. His policies empowered people, as individuals, to make the decisions that best suited them.
Yes, an unprecedented pandemic reversed many of our gains, through no fault of President Trump’s, but he has already proven that a limited-government economic model is the best path forward. President Trump showed that decades of business experience truly do matter. His policies are uniquely capable of guiding America to a brighter future.
We cannot afford to go back to the times of Big Government, when overzealous politicians were finding ways to raise taxes and expand regulations at the expense of small business. As a small business owner, I have lived and worked through many presidents, and the Trump administration has been the most effective in serving the interests of job creators—from mom-and-pop diners to local bookstores and construction companies.
President Trump knows that being pro-worker means being pro-business. You can’t have one without the other.
That same mindset is also getting the pandemic economy back to normal. The unemployment rate continues to fall, with millions of jobs being created. I, for one, trust President Trump to keep up the positive momentum because he has already done it before.
With each passing month, America is in a better and better place. You can count on small business, and the president’s policies to have our back.
Alberto Moore is a small business owner in Tucson, AZ and a member of the Job Creators Network.