ECONOMIC GROWTH -- (House of Representatives - May 26, 2005)
(Mrs. BLACKBURN asked and was given permission to address the House for 1 minute and to revise and extend her remarks.)
Mrs. BLACKBURN. Mr. Speaker, earlier this week I came to the floor to share great economic news from my State of Tennessee. We had just learned that Tennessee expects to have a $272 million boost in sales revenue, State revenues. It appears that our fight to restore the sales tax deductibility to our Federal income tax is paying off big time, and we thank the leadership for that.
But, Mr. Speaker, the good thing we have learned is that this news is not just limited to Tennessee. Just this morning the Bureau of Economic Analysis revised the Nation's first quarter growth upward. America's GDP grew at 3.5 percent, not 3.1 percent, as had previously been estimated.
If you do not know what that means, let me tell you. It means that the Republican support for lower taxes and less regulation is paying off. It works. It works. In April, America's free enterprise system created 274,000 new jobs.
Everyone in this body should recognize the fact that our leadership and our majority are putting America on the right track for growth and job creation.