For 250 years, America's story has been written behind the counters of family-owned stores, on ranches and farms passed down through generations, and on Main Street where hardworking Americans take risks, open their doors and build something from the ground up.
I know this because I’ve lived it. Before serving in Congress, I spent decades helping grow my family's business in Texas. I learned what it feels like to lie awake wondering how you're going to make payroll, and what it feels like the morning you finally can. It was grit, family, faith, and a lot of long days.
As America prepares to celebrate its 250th birthday, I'll be thinking about the entrepreneurial spirit that has driven our country since its founding. Our Founding Fathers were entrepreneurs in their own right – visionaries and risk-takers who charted a new course for a nation built on freedom and opportunity.
I'll also be thinking about those who have always done the quiet work of building this country – the shopkeepers, tradesmen, and family businesses. Those business owners who bet on themselves and, in doing so, helped build the most prosperous nation the world has ever known.
Two hundred and fifty years later, they're still at it. And this Independence Day, I’m proud to say that the backbone of our economy is roaring back.
Recent data shows a strong economy, with our economy adding 172,000 jobs in May – more than twice what was predicted, and unemployment holding steady at 4.3%. This made for the best three-month hiring run we've seen in over two years.
The U.S. Chamber of Commerce found that small businesses have accounted for about 78% of all hiring in this country since 2001. Lately, it's even more, with small businesses creating roughly 4 million jobs a month and more than three-quarters of all new job openings.
Thanks to the Working Families Tax Cuts, a big part of this growth is attributable to one thing: a reduction in taxes for hardworking Americans. This prevented a $5 trillion tax hike and put more money in the pockets of taxpayers.
As the U.S. Chamber of Commerce noted, America's small businesses finally have greater tax certainty and relief from burdensome regulations. This means more confidence to invest, hire, and grow – helping keep our economy moving forward.
With the foundation in place, the potential for a true American comeback is clear. This Fourth of July, take a moment to thank the small business owners in your community. Stop by their stores, support their work, and cheer them on.
They carry forward the same spirit of enterprise, independence, and determination that helped build this nation in 1776. And they remain living proof that America's greatest days are still ahead.
