Tax reform keeps delivering for Americans

On Tuesday, the Congressional Budget Office (CBO) released its Budget and Economic Outlook for 2020-2030, which provides Congress with an unbiased 10-year budget projection and measures the nation’s economic health. Thanks to the Tax Cuts and Jobs Act, which House Republicans passed and President Trump signed into law in 2017, America’s economy is roaring.

The report affirms that Republican pro-growth policies have created more jobs and increased wages for American workers while reducing the federal deficit by a projected $705 billion over the next decade. I’m eager for Congress and President Trump to build on these successful policies and keep the economy growing for all Americans.

Coming your way: USMCA

Next Wednesday, President Trump will sign the United States-Mexico-Canada Agreement (USMCA) into law. After being needlessly held up by House Democrats for a year, the Senate last week passed USMCA by an overwhelming vote of 89 – 10. Once signed into law, USMCA will generate over $68 billion in economic activity, create 176,000 new jobs for American workers, and, for the first time, open Canadian markets to American dairy products. With this great deal, alongside his recent trade deal with China, President Trump is delivering on his promises to put America first and dismantle unfair trade barriers on U.S. farmers and workers.

An historic China trade deal

On Wednesday, President Trump signed an historic Phase One trade agreement with China. This trade deal culminates a three-year-long effort by the Trump administration to rebalance our trade relationship with China. Prior to this deal, the U.S. trade relationship with China suffered from cybertheft of U.S. intellectual property, forced technology transfers, and inadequate market access to U.S. businesses.

With this Phase One trade deal, China has committed to purchasing roughly $200 billion of U.S. goods while promising to implement structural reforms and other changes to their economic and trade regime. In particular, the deal dramatically expands U.S. agriculture and food exports to China. I’m optimistic this Phase One trade deal will usher in free and fair trade with China and bring economic growth to the Central Valley. I look forward to the Trump administration’s continued efforts to deliver strong and enforceable trade deals for all Americans.