Support for the GOP’s recently passed tax reform bill is surging now that many Americans have discovered that they are going to get a tax cut.
Since the bill passed, support for it has grown among Republicans and Democrats while the number of those opposed to it dropped in both parties. The New York Times reports:
But support for the law has grown significantly over the past month, and more Americans believe that they will receive a tax cut. Forty-six percent of Americans strongly or somewhat approved of the law in early January, up from 37 percent when the bill was nearing passage in December.
At the same time, falling unemployment, accelerating economic growth and a surging stock market have made Americans increasingly positive about both their own finances and the overall economy.
A growing list of companies have announced that they are giving generous bonuses to their employees, increasing their wages, and giving more to charity as a direct result of the tax cuts. The widely felt positive impact of the tax reform bill is a far cry from the “Armageddon” House Minority Leader Nancy Pelosi (D-CA) assured Americans was coming due to the $1.5 trillion in tax cuts.
Economists are now giving Trump more credit for the growing economy than they are former President Barack Obama. Economists say that Trump’s actions are better for the long-term growth of the economy and note that “business confidence is higher and business investments are increasing under Trump.”