President Trump is the greatest POTUS ever. What he accomplished in 4 short years (despite unprecedented obstruction) is nothing short of a miracle. President Trump will be missed, but he will also be back. You can take that to the bank.
— Ivanka Trump (@IvankaTrump) January 15, 2021
Trump Administration Accomplishments
By The White House, January 15, 2021
Unprecedented Economic Boom
Before the China Virus invaded our shores, we built the world’s most prosperous economy.
- America gained 7 million new jobs – more than three times government experts’ projections.
- Middle-Class family income increased nearly $6,000 – more than five times the gains during the entire previous administration.
- The unemployment rate reached 3.5 percent, the lowest in a half-century.
- Achieved 40 months in a row with more job openings than job-hirings.
- More Americans reported being employed than ever before – nearly 160 million.
- Jobless claims hit a nearly 50-year low.
- The number of people claiming unemployment insurance as a share of the population hit its lowest on record.
- Incomes rose in every single metro area in the United States for the first time in nearly 3 decades.
Delivered a future of greater promise and opportunity for citizens of all backgrounds.
- Unemployment rates for African Americans, Hispanic Americans, Asian Americans, Native Americans, veterans, individuals with disabilities, and those without a high school diploma all reached record lows.
- Unemployment for women hit its lowest rate in nearly 70 years.
- Lifted nearly 7 million people off of food stamps.
- Poverty rates for African Americans and Hispanic Americans reached record lows.
- Income inequality fell for two straight years, and by the largest amount in over a decade.
- The bottom 50 percent of American households saw a 40 percent increase in net worth.
- Wages rose fastest for low-income and blue collar workers – a 16 percent pay increase.
- African American homeownership increased from 41.7 percent to 46.4 percent.
Brought jobs, factories, and industries back to the USA.
- Created more than 1.2 million manufacturing and construction jobs.
- Put in place policies to bring back supply chains from overseas.
- Small business optimism broke a 35-year old record in 2018.
Hit record stock market numbers and record 401ks.
- The DOW closed above 20,000 for the first time in 2017 and topped 30,000 in 2020.
- The S&P 500 and NASDAQ have repeatedly notched record highs.
Rebuilding and investing in rural America.
- Signed an Executive Order on Modernizing the Regulatory Framework for Agricultural Biotechnology Products, which is bringing innovative new technologies to market in American farming and agriculture.
- Strengthened America’s rural economy by investing over $1.3 billion through the Agriculture Department’s ReConnect Program to bring high-speed broadband infrastructure to rural America.
Achieved a record-setting economic comeback by rejecting blanket lockdowns.
- An October 2020 Gallup survey found 56 percent of Americans said they were better off during a pandemic than four years prior.
- During the third quarter of 2020, the economy grew at a rate of 33.1 percent – the most rapid GDP growth ever recorded.
- Since coronavirus lockdowns ended, the economy has added back over 12 million jobs, more than half the jobs lost.
- Jobs have been recovered 23 times faster than the previous administration’s recovery.
- Unemployment fell to 6.7 percent in December, from a pandemic peak of 14.7 percent in April – beating expectations of well over 10 percent unemployment through the end of 2020.
- Under the previous administration, it took 49 months for the unemployment rate to fall from 10 percent to under 7 percent compared to just 3 months for the Trump Administration.
- Since April, the Hispanic unemployment rate has fallen by 9.6 percent, Asian-American unemployment by 8.6 percent, and Black American unemployment by 6.8 percent.
- 80 percent of small businesses are now open, up from just 53 percent in April.
- Small business confidence hit a new high.
- Homebuilder confidence reached an all-time high, and home sales hit their highest reading since December 2006.
- Manufacturing optimism nearly doubled.
- Household net worth rose $7.4 trillion in Q2 2020 to $112 trillion, an all-time high.
- Home prices hit an all-time record high.
- The United States rejected crippling lockdowns that crush the economy and inflict countless public health harms and instead safely reopened its economy.
- Business confidence is higher in America than in any other G7 or European Union country.
- Stabilized America’s financial markets with the establishment of a number of Treasury Department supported facilities at the Federal Reserve.
Tax Relief for the Middle Class
Passed $3.2 trillion in historic tax relief and reformed the tax code.
- Signed the Tax Cuts and Jobs Act – the largest tax reform package in history.
- More than 6 million American workers received wage increases, bonuses, and increased benefits thanks to the tax cuts.
- A typical family of four earning $75,000 received an income tax cut of more than $2,000 – slashing their tax bill in half.
- Doubled the standard deduction – making the first $24,000 earned by a married couple completely tax-free.
- Doubled the child tax credit.
- Virtually eliminated the unfair Estate Tax, or Death Tax.
- Cut the business tax rate from 35 percent – the highest in the developed world – all the way down to 21 percent.
- Small businesses can now deduct 20 percent of their business income.
- Businesses can now deduct 100 percent of the cost of their capital investments in the year the investment is made.
- Since the passage of tax cuts, the share of total wealth held by the bottom half of households has increased, while the share held by the top 1 percent has decreased.
- Over 400 companies have announced bonuses, wage increases, new hires, or new investments in the United States.
- Over $1.5 trillion was repatriated into the United States from overseas.
- Lower investment cost and higher capital returns led to faster growth in the middle class, real wages, and international competitiveness. Read More
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