The event marked the sixth-month anniversary of the Tax Cuts and Jobs Act becoming law.
Six months have passed since the Tax Cuts and Jobs Act was made law. President Trump recently hosted an event at the White House to mark the occasion. NFIB President Juanita Duggan attended the event and was acknowledged by the president for NFIB’s role in achieving these historic tax cuts.
“Your support has been incredible in getting this very difficult legislation to the finish line and passed,” Trump said, asking Duggan and three other attendees to stand and be recognized.
Other attendees included Vice President Mike Pence, Treasury Secretary Steven Mnuchin, Commerce Secretary Wilbur Ross, Labor Secretary Alexander Acosta, Agriculture Secretary Sonny Perdue, Small Business Administrator Linda McMahon, and Office of Management and Budget Director Mick Mulvaney.
Another special guest at the event was NFIB member and small business owner Rick Turner. Turner, the president and principal owner of Matric Group, an electronics contract manufacturing business in Seneca, Pennsylvania, said the recent tax cuts helped him make a $1.4 million capital investment in new state-of-the-art machines.
“The reason we’re here is we were recognized for investment and growth in jobs at Matric,” Turner said. “The tax reform act has given us new confidence in the economy and in the future. The experience was thrilling. I’m very happy to have been included.”
Trump cited NFIB’s Small Business Optimism Index, which increased in May to the second highest level in the NFIB survey’s 45-year history. The index rose to 107.8, a three-point gain.
“The share of small businesses raising benefits and pay has just set a new all-time record,” Trump said.
In a recent NFIB survey, 75 percent of small business owners said that savings from the Tax Cuts and Jobs Act will benefit their business. Tax reform is working for NFIB members and for small businesses across the country.