I call this hearing to order. 

America is a beacon to the world. It is the land of opportunity, where everyone has a shot at the American dream. 

Our nation isn’t perfect, of course, and not everyone gets to start from the same position. Many Americans face tremendous adversity.

As lawmakers, we must avoid standing in the way of Americans being able to enter the workforce, or switching to jobs that pay more, offer better benefits, or provide greater flexibility.

Since commonsense pro-growth policies have been implemented, we have seen a groundswell in opportunity. The so-called “quit rate” as measured by the Bureau of Labor Statistics is at its highest since 2001. Workers are more confident to leave their old jobs for new ones.

Job satisfaction is its highest since 2005 according to a survey by the Conference Board.

These are positive signs as opportunities expand for everyday Americans.

And contrary to claims that economic growth is only benefitting the wealthy, the unemployment rates among those workers who normally face the greatest challenges in the job market have fallen drastically since pro-growth policies were initiated:

Among those without high school diplomas, the unemployment rates of blacks, Hispanics, and whites have fallen 8.1, 3.8, and 3.3 percentage points, respectively.

According to a Washington Post analysis, there’s been a 3.3 percent increase in jobs for blue-collar workers in goods-producing jobs, the best rate since 1984.

A New York Times article states that “The number of Americans seeking Social Security disability benefits is plunging, a startling reversal of a decades-old trend.” It cites a stronger economy as the cause.

This is how we look at the full picture of our economy: By looking at a variety of indicators.

While my friends on the other side of the aisle look at downward movements in measures of average and median worker earnings, they fail to see that the median worker today is not necessarily the same person as last month, or last year, or a decade ago. It is possible for these measures to decline, even when wage rates are rising!

Many critics fail to acknowledge that people move in and out of different income ranges over their lifetime.

Just because it is not easy to measure progress across a population of over 320 million people, we should not assume people are tethered to a given income percentile over their lifetime despite ample evidence to the contrary.

Millions of people from all over the world continue to relocate to the United States despite tremendous risks and numerous challenges. Clearly it is because America remains the land of opportunity.

We must take care in reading headline statistics otherwise we risk creating policies that destroy the potential for real progress.

If we allow people to thrive, they will thrive. If we allow American businesses to invest in their workers, they will invest in their workers. If we let Americans keep more of their money, they will put it to the best uses for their families and their own well-being, and our economy will thrive.

Our future will only be brighter if we follow the path of smart economic policy. Our prospects for a brighter future will be dimmed if we go back to the old ways. For instance, Democrats are threatening to increase taxes to where they were prior to the Tax Cuts and Jobs Act.

America’s tax rate for doing business would surge back to the highest in the developed world, and would undo the growth-enhancing economic incentives that have powered increased private domestic investment and economic growth in less than two years. American workers will not have as much of the capital investment to work with that is critical to raise productivity, and that would be bad news for future wage growth.

The success of recent economic policy is clear. We are again relying on the ability of people to climb up the economic ladder, to grow, and thrive.

Our star panel of witnesses will help explain the progress made to date and how and why, with pro-growth policies, we can continue to prosper as the great nation we know America to be.

Before I introduce our witnesses, I now yield to Ranking Member Heinrich for his opening statement.