Ortiz: Hispanics Are Thriving in Trump's Economy
This is the kind of news at least one important voting group of American voters needs to hear ahead of the midterm elections — and it’s the kind Democrats don’t want getting out.
President and CEO of the non-partisan Job Creators Network Alfredo Ortiz says the economy under President Donald Trump is especially benefiting Hispanics.
In a commentary piece published by The Hill on Tuesday, Ortiz described how Trump’s pro-growth economic policies have helped Hispanic entrepreneurs, who are starting businesses at a much faster rate than the general population.
While Hispanics took the hardest hit under President Obama’s low-growth, high-regulation regime, Trump’s deregulation and pro-business practices have encouraged their entrepreneurship.
For example, the Trump tax cuts, which passed without a single Democrat vote, “included a new 20 percent small business tax deduction that allow entrepreneurs to protect one-fifth of their earnings from taxes, funds that can be used to help their businesses survive and thrive,” Ortiz wrote.
“Most small businesses describe this provision as a ‘game changer,'” Ortiz wrote, citing a Bank of America survey.
Hispanic unemployment has also remained steady the past five months at a record low of below 5 percent, according to Labor Department statistics.
The past two years have also seen full-time Hispanic workers’ median weekly earnings grow by 4.3 percent, adjusted for inflation, Ortiz wrote, citing the Labor Department.
In 2017 the median income for Hispanic households grew by 3.7 percent, adjusted for inflation, according to the Census Bureau.
The current state of the growing economy is in general helping Hispanics, Ortiz wrote.
Recently, there has been a rapid expansion of full-time jobs, while part-time jobs have shrunk, giving Hispanic employees more working hours and more opportunities to raise their incomes.
This comes as a welcome relief from the economy under Obama, in which it took until 2015 for Hispanic household incomes simply to go back to their levels from 2006, Ortiz wrote.
In general, Ortiz wrote, household incomes stagnated under Obama’s policies, remaining flat between 2010 and 2014.
Thanks to Trump’s positive economic force, entrepreneurs are able to start businesses free of government-regulated barriers. And Hispanics are leading the way in entrepreneurship.
It may be working in Trump’s favor.
“According to a Harvard CAPS/Harris poll this summer, Trump’s approval among Hispanics jumped by 10 percentage points in one month,” Ortiz wrote.
After all, jobs, education, and the economy are issues we can all get behind.
As Ortiz pointed out, Republicans should focus on uniting Americans behind this pro-opportunity sentiment, and move forward from the divisiveness that has plagued the country under the Obama years.
One way to do that is reminding all voters of news like this: The Trump economy is working.
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