Hoyer Statement on Record Breaking Dow Jones Industrial Average Decline

Statement

"Today's dramatic drop in the Dow index of 1,175 points, the worst single-day point drop in its history, reflects a growing concern that the economy cannot keep pace with the promises made by this President and Republicans in Congress. It will bring worry for families across the country about whether they will be able to afford to send their children to college, purchase a home, or retire securely.

"Reports indicate that the Republican tax law played a significant role in today's stock market decline. Because this law was pursued for political goals of benefiting wealthy GOP donors rather than policy goals of boosting the middle class and encouraging small business growth, it has led to an explosion in the deficit and is harming our economy. That is not good for families or small business owners.

"President Trump and Republicans in Congress need to get serious and work together, in a bipartisan way, to promote budget certainty, restore the investor protections that this Administration has undermined, and enact legislation to help our businesses and workers make it in America."

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