September 24, 2020 - Issue: Vol. 166, No. 166 — Daily Edition116th Congress (2019 - 2020) - 2nd Session

[Pages H4891-H4892]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                    PROMISE OF OPERATION WARP SPEED

  The SPEAKER pro tempore. The Chair recognizes the gentlewoman from 
North Carolina (Ms. Foxx) for 5 minutes.
  Ms. FOXX of North Carolina. Mr. Speaker, Operation Warp Speed moves 
us closer to a cure for COVID-19. Thanks to President Trump, the 
administration, and the private sector, a viable vaccine is now within 
reach.
  Operation Warp Speed has proceeded at an unprecedented pace, and it 
reflects a profound level of urgency. It is a direct reflection of 
President Trump's commitment to protecting the American people.
  Taxpayers at the Federal level have committed over $10 billion to 
support the development of a vaccine, and the private sector has 
stepped up to meet this challenge head-on.
  Keep in mind that many vaccines and their subsequent clinical trials 
can take many years to complete. Without a doubt, we are closer to 
eradicating COVID-19 thanks to Operation Warp Speed.


                  Progrowth Policies Benefit Americans

  Ms. FOXX of North Carolina. Mr. Speaker, in a recent report released 
by the U.S. Census, it was revealed that the median household income in 
the United States rose by 6.8 percent in 2019. I want to repeat that. 
The median household income in the United States rose by 6.8 percent in 
2019.
  This was the highest annual increase on record, and it is all thanks 
to the commonsense, progrowth policies that are being led by President 
Trump and congressional Republicans.
  Not surprisingly, household incomes also grew 50 percent faster last 
year than the entire 8 years of the Obama administration.
  The good news doesn't stop there. New small business applications 
increased twice as much in President Trump's first 2 years in office 
versus President Obama's last 2.
  Mr. Speaker, it is quite evident that progrowth policies are the 
difference between inflating government bureaucracy and empowering 
American families. It is just that simple.
  Mr. Speaker, on September 23, there was an article in The Washington 
Times titled ``Trump creates jobs. Biden destroys them. It's not 
complicated,'' and I include in the Record the article.

     Trump creates jobs. Biden destroys them. It's not complicated.

       Trump's record proves that he knows how to create a strong 
     economy.
       Donald Trump has proven that he knows what it takes to 
     create jobs on a massive scale and ensure that prosperity is 
     shared by all Americans. Democrat presidential nominee Joe 
     Biden doesn't even know how many letters are in the word 
     ``jobs.''
       President Trump's record proves that he knows how to create 
     a strong and growing economy that generates enormous 
     opportunity for all Americans to succeed. Prior to the 
     artificial contraction caused by the coronavirus pandemic, 
     the national unemployment rate had been consistently hovering 
     at a 50-year low, and joblessness had reached the lowest 
     level ever recorded for both black and Hispanic workers.
       The president's pro-growth economic policies played a major 
     role in creating the strongest economy in history, which was 
     a particularly impressive feat after eight years of 
     stagnation under the Obama-Biden administration. The 2017 Tax 
     Cuts and Jobs Act, for example, cut taxes for every income 
     bracket, particularly benefitting middle-income Americans. 
     The tax bill also created Opportunity Zones, driving tens of 
     billions of dollars in new investment to historically 
     underdeveloped communities in every state, providing jobs, 
     housing, and infrastructure necessary to revive those 
     communities.
       Mr. Trump's emphasis on targeted deregulation has also made 
     it easier and more efficient to create jobs and start new 
     business ventures in this country.In 2012, halfway through 
     the Obama-Biden era, federal regulations were placing a 
     massive burden on the small businesses that account for 
     almost half of all jobs in this country, costing an average 
     of $11,724 each year in regulatory compliance costs for each 
     new employee they hired. The Trump administration slashed 
     tens of billions of dollars worth of harmful, job-killing 
     regulations, saving American households over $3,000 per year 
     on average. Mr. Biden, however, is vowing to undo these 
     effective policies and replace them with even more crippling 
     taxes and regulations than before, particularly on middle-
     income Americans. His proposals to eliminate entire 
     industries such as fracking and increase the federal minimum 
     wage to $15 per hour would be a blow to small- and medium-
     sized businesses that are only just getting back on their 
     feet after months of pandemic-related lockdowns.
       We don't have to take him at his word, though. Mr. Biden, a 
     career politician who has spent nearly half a century in 
     Washington, has a long history of supporting job-killing 
     policies such as the North American Free Trade Agreement 
     (NAFTA), which cost Americans over a million jobs. Mr. Biden 
     also supported normalizing trade relations

[[Page H4892]]

     with China, paving the way for the repressive communist 
     country to secure membership in the World Trade Organization 
     (WTO), leading to the loss of over 60,000 American factories 
     and millions more blue collar jobs.
       The former vice president clearly has no idea how to manage 
     an economy, and his extensive record of bungling the job as 
     both a senator and vice president proves it. Under the Obama-
     Biden administration's job-killing policies, the American 
     middle class experienced a double-whammy in the aftermath of 
     the Great Recession, contributing to this country's slowest 
     economic recovery since World War II.
       While Mr. Biden was still struggling to pinpoint just how 
     many letters are in the word ``jobs,'' former President Obama 
     entrusted him to manage the administration's economic 
     recovery agenda--and it turned out to be a miserable failure. 
     President Trump turned things around in a hurry once he took 
     office, and he's already working the same magic as he 
     orchestrates a ``V-shaped'' recovery from the artificial 
     coronavirus downturn. Results matter, and Donald Trump is the 
     only candidate with a proven track record of delivering the 
     sort of results the American people need.

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