U. S. Congressman Pat Tiberi (R-OH), Chairman of the Joint Economic Committee, released the following statement about the report by the Bureau of Economic Analysis that the U.S. economy grew 3.0 percent at an annualized rate during the third quarter of 2017:

 

“This report is a welcome confirmation of the progress the U.S. economy is making despite the impact of hurricanes Harvey and Irma. I believe that confidence in the economy is growing. However, as the chairman of the Council of Economic Advisers explained at our hearing this week, tax and regulatory reform is the key to significantly boosting wage growth.

 

“Taxes and regulations that allow American businesses to compete on a level international playing field will increase job opportunities and wages here in the United States. Americans deserve to feel secure knowing that if they work hard, they will have a brighter future for themselves and their families. Passing our budget on Thursday puts us one step closer to making tax reform a reality for American families and businesses.”

 

The pre-Obama 50-year average annual rate was 3.4 percent compared with the Obama administration’s average of 1.5 percent.