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Pro-growth policies are working: Since the enactment of the Tax Cuts and Jobs Act, growth in earnings of rank-and-file workers has accelerated to a recovery high, while inflation is below the Fed’s 2 percent inflation target.
In addition to providing broad-based tax relief, the Tax Cuts and Jobs Act created Opportunity Zones (OZs), drawn from legislation introduced by Senator Tim Scott (S.293) and former Representative Pat Tiberi (H.R.828), the Investing in Opportunity Act. OZs encourage long-term private capital investment to revitalize low-income areas.

November FOMC Review

Nov 15 2018

The economy’s resurgence, driven by pro-growth regulatory reform and the Tax Cuts and Jobs Act, has enabled the Federal Reserve to normalize interest rates, i.e., get them to a level that is more consistent with historical norms, and to start shrinking its balance sheet. To realize the full effects of pro-growth policies, the Fed must essentially “thread the needle”: Some additional interest rate hikes may be warranted as the economy continues to improve, but they should not be so rapid as to disrupt the recovery.
Obamacare forced Americans to buy government-approved health insurance—a federal command known as the individual mandate—and enforced it by taxing people who are uninsured. Since the Tax Cuts and Jobs Act ended the tax (beginning in 2019), reality has defied every doomsday prediction.
The opioid crisis remains one of the most pressing issues of our time. Who succumbs to addiction—and is therefore at risk of dying from a drug overdose—is affected by a variety of factors, but many of them are social. Adults who experience childhood trauma—often at the hands of a family member—are also especially at risk of addiction.