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Mr. MITCHELL. Mr. Speaker, I want to thank my colleague from West Point, Georgia, and I want to also thank the Georgia and Alabama delegations' Members who, as part of the Tax Truth Squad, have come here tonight to share examples of the impact of the Tax Cuts and Jobs Act on their districts.
The last major tax reform was conducted 31 years ago. I believe many people, many businesspeople and workers, had simply given up on the idea that we would actually achieve what we achieved at the end of last year. In less than three months since the tax reform bill passed, as my colleague said, more than 440 companies have given a pay raise, bonuses, increased 401(k) contributions, or, in the case of utility companies, lowered their rates dramatically. In Michigan, rates will be lowered this year by $400 million.
This number of 440 doesn't even include small mom-and-pop businesses on Main Street. At least 4 million Americans are receiving special tax reform bonuses, announced already this year, in 3 months. The direct bonus announcements have already passed $4 billion. Small-business owners are showing unparalleled confidence in the economy as the optimism index reached record high numbers in February according to the NFIB Small Business Economic Trend Survey. Let me say that again: record high numbers, all as a result of what we achieved at the end of the year.
This optimism in economic strength is reflected in data recently released. Last month, the United States economy created 313,000 new jobs.
More importantly, 800 million people reentered the labor force who weren't trying to go to work. The unemployment rate remained the same at 4.1 percent, what most people call full employment. Equally important, wage growth over last year increased 2.6 percent; 2.6 percent already in terms of wage growth.
These are good things for Americans, for wage earners; and, as my colleague said, even more importantly, a good thing because they keep money in the pockets of workers and families to make decisions on what to do with their hard-earned money rather than depend on those of us here, frankly, in Congress or, worse, bureaucrats, to spend it for them.
Mr. Speaker, I thank all the Members of Georgia and Alabama as part of the Tax Truth Squad to put their stories forward tonight.
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