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West Wing Reads |
Real disposable incomes in U.S. increase most since 2015
Sho Chandra reports for Bloomberg Markets that “Americans’ wallets fattened in January on recent tax cuts, indicating increased spending power may boost the economy this quarter,” according to a report by the Commerce Department. Chandra notes that President Donald J. Trump’s tax cuts sparked “a $30 billion increase in one-time bonuses and a $115.5 billion annualized drop in personal taxes.”
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“The number of Americans filing new applications for unemployment benefits fell last week to the lowest level since December 1969, offering fresh evidence of health in the labor market,” Ben Leubsdorf reports in The Wall Street Journal.
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In the Washington Examiner, Brendan Pringle writes that “in a new partnership with Guild Education, Lowe’s Home Improvement Hardware Store is launching a program that provides employees with financial assistance for trade skill certification.” Pringle explains that “the home improvement company has embraced President Trump’s job creation agenda, filling the void of blue-collar workers who are integral to our country’s economic growth. It has also become a success story of the administration’s tax reform efforts.”
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The Investor’s Business Daily Editorial Board writes that “a new survey shows that not only are most people — including minorities and women — seeing extra money in their paychecks thanks to the GOP tax cuts, but Trump is benefitting as well. What will Nancy ‘Crumbs’ Pelosi have to say about that?” The editors note that “the survey, conducted by LendEDU, found that among those who have seen an increase in take-home pay, the average is $130.76 a month — or nearly $1,600 for the year. That might look like crumbs to multi-millionaire liberals like Pelosi, but it's real money to middle class families.”
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In The Washington Times, Matt Mackowiak shares that “a new report from the Heritage Foundation shows President Trump has successfully advanced 64 percent of his agenda, faster than President Ronald Reagan’s pace at the same point.” Mackowiak explains that while the media remains distracted, “the Trump administration is deliberately moving their agenda and President Trump’s high approval rating among Republicans reflects their satisfaction with what he has achieved.”
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