WASHINGTON, D.C. – Today, House Ways and Means Committee Chairman Kevin Brady (R-TX) issued the following statement after the Bureau of Economic Analysis released its report on Gross Domestic Product (GDP) in the third quarter of 2017.
“This report reinforces the resilience of the American people. Despite Hurricanes Harvey and Irma, which decimated many communities in my district and across the country, our economy produced solid growth last quarter.
“With the budget we passed yesterday, Congress now has the best opportunity in a generation to continue this growth through bold, transformational tax reform. Next week, the Ways and Means Committee will introduce legislation to overhaul today’s miserably uncompetitive tax code and reinvigorate America’s economy – so our local businesses can grow and create more jobs, our workers can finally get a pay raise, and our families can keep more of what they earn.
“Working with President Trump and the Senate, we will deliver on our tax reform promise this year – ushering in a new era of growth for the American people.”
NOTE: Real GDP increased at an annual rate of 3.0 percent in the third quarter of 2017.