A key senator from a midterm election battleground state said that the booming economy is helping to increase wages to a new high and spark hiring.
Ohio Republican Sen. Rob Portman said that deregulation pushed by President Trump and the new tax cut package is proving to be a big factor in the growth.
“It’s heartening to see that there are serious changes being made in our economy that are positive for someone who’s making $40,000 to $50,000 a year and can now see a higher wage,” said Portman. “Even the quarterly numbers in terms of non-supervisory wages represent the highest wage growth we’ve seen in at least a decade. So this is exciting. It’s actually happening — the things that we hoped would happen in the context of tax reform,” he added.
[Also read: Trump tax cut benefits all congressional districts, up to $44,697 per family]
Portman gave his grade on the economy at a breakfast hosted late last week by the Ripon Society. The moderate Republican policy group posted the event today.
The senator noted the help cutting regulations has had on the economy, a combination of congressionally cut rules and those axed by the Trump administration.
“We were able to get rid of a lot of bad regulations. But I think more broadly, it’s a different culture at the top. And it is a positive culture in my view, saying: ‘Yes, we understand regulations are important, but we’re not going to use regulations to punish businesses — particularly small businesses.’ That change is dramatic back home,” he said.
He said that 75 percent of businesses in Ohio have indicated they are hiring.
But he wasn’t claiming victory for all. He noted that many Americans and Ohioans are not employed. “There’s a lot of good stuff going on,” he said. “But we still haven’t solved the issue of those who are on the sidelines not engaged in work,” he added.
