Jobs and the Economy
Our economy recovered slowly from the severe recession in 2008, but it has begun to turn a corner. Americans are returning to work, corporate earnings are high, and the stock market has risen to record levels. However, these gains mask the fact that middle class Coloradans and Americans are still struggling to make ends meet. With labor force participation still unnervingly low and workers’ hourly earnings just beginning to show signs of growth, we still have a long way to go until the middle class feels like the recovery is real.
I’ve called this our “veneered economy”, and you don’t have to scratch too far below the surface to see American families hurting. The urban-rural divide in this country is a heartbreaking example of unbalanced economic growth that has changed the small towns and main streets that once served as vital community hubs. More must be done to ensure that all Americans benefit from our country’s economic prosperity.
A strong, vibrant economy starts with simple, predictable, pro-growth tax policy that encourages investment and risk taking to maximize long-term growth. That is why I am proud to have helped deliver the first major overhaul of our tax code in over 30 years. The tax reform has brought relief to working families, increased wages, boosted investment here at home, and brought back billions in foreign profits sitting overseas.
We also need to make sure our workforce has the skills necessary to compete in a 21st century economy. This will improve labor force participation and further encourage companies to invest here and create well-paying, middle-class jobs. Finally, increasing public and private investment in research and development would ensure that America continues to lead the global economy. With policies like these, we’ll not only turn the corner but really unleash our economy and get this nation back to work in jobs and salaries that allow them to achieve their dreams.