Congressman Mackenzie Hails Strong Q3 GDP Report

Washington, D.C. — Congressman Ryan Mackenzie (PA-7), representing the Lehigh Valley and the Poconos, hailed the news of strong economic growth in the third quarter. Wednesday’s report from the Commerce Department showed that gross domestic product (GDP) grew at a rate of 4.3% in the third quarter. This is the fastest rate of growth in two years and well above economists’ expectations of 3.2% growth. 

“Today’s growth figures are the latest sign that investing in workers, families, and small businesses is the key to strong, sustainable growth,” said Congressman Mackenzie. “More work remains, but after entering the year and finding an economic situation that was far weaker than initially thought, we are making progress towards building an economy that delivers for the American people. I’ll keep working to unleash American energy; cut unnecessary red tape; and support workers, seniors, and small businesses.”

Congressman Mackenzie has helped to pass a range of pro-growth policies since beginning his term in January. This includes:

• Tax relief for every American, including families, seniors, and workers. 
  • $750 increase to the standard deduction.
  • Raised the Child Tax Credit to $2,200 (had been set to fall back to $1,000).
  • Established a $6,000 bonus deduction for seniors — eliminating taxes on social security for 88% of seniors. 
  • And more. 
• Preventing the expiration of the Tax Cuts and Jobs Act, which would have resulted in a 22% tax increase for the average taxpayer. 
• Permanently extending the 20% Small Business Deduction, benefiting over 30 million small businesses. 
• Permanently allowing 100% immediate expensing for business investments, helping small businesses to grow and expand. 
• Rolling back the failed, one-size-fits-all energy policies of the Biden era and embracing an all-of-the-above policy. 
• Reining in red tape that strangles small businesses. 

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