President Trump delivered a plea for bipartisanship and unity in Tuesday night's State of the Union address, asking leaders on both sides of the aisle to partner with him to create "a safe, strong and proud America."
Beyond the president's call for bipartisanship, he has also delivered on his promise to continue to take steps to boost our economy.
And so far, his plan is working.
Since President Trump was elected, more than 20 Consumer Technology Association (CTA) member companies have made 40 major job announcements and shared plans to create more than 250,000 U.S. jobs. Most recently, as the president highlighted in his speech, Apple announced a $350 billion investment into our nation's economy and plans to create 20,000 jobs.
There's no question President Trump helped spur this job creation and economic growth. Here are three reasons that, thanks to President Trump, the tech industry is creating jobs:
- Tax reform
It was the best holiday gift the business community could receive. We've already seen the impact of the historic tax legislation that Trump signed on the stock markets, and corporations of all sizes will also see a difference. Large, multinational corporations have started to create more jobs in the U.S., and small business owners will find it easier to create and maintain their businesses. This growth will spur investment in the U.S. economy and U.S. innovation.
- Cutting rules
Soon after taking the oath of office, the president enacted significant regulatory reform, ending more than 400 unwieldy rules. This is a radical change from what we experienced under the previous administration. Although the two-for-one rule introduced by the president is hardly a nuanced approach to reform, it is certainly an effective one. It lowers barriers to entry for American entrepreneurs: No longer crippled by the weight of rules and crushed by the costs of hiring lawyers, innovators and manufacturers can build new companies and create new jobs.
Such changes indicate the government is actually on the side of business growth and job creation. Thanks to the capable leaders President Trump has put at the helms of key federal agencies, business meetings with federal government officials are now discussions about how the government can fulfill its responsibilities of ensuring a clean environment, a safe workplace or providing security while eliminating archaic, often redundant rules and procedures. In short, our federal government is becoming more efficient and helpful, supporting enterprising Americans as they develop new innovations and create jobs.
- Bully pulpit
Because of the Trump administration's bully pulpit, CEOs across America have been able to reconsider what it means to lead responsibly. After countless years of morality being defined by legality and increasingly complex rules, business leaders are considering how they can use their brand, their voice and their platform to promote good. Sometimes, this means challenging federal leadership, speaking up where they are not acting in the best interests of the economy and the nation. But the fact that it's a conversation — not a monologue — is largely due to President Trump.
Political issues have always had an impact on industry and economy — but never as quickly as under this administration, where one tweet has the power to tip the balance of the markets. These realities have forced companies to not only engage politically in ways that they wouldn't have before, but also consider the interests of the demographics and groups that they serve.
Our nation is thriving under President Trump. Our unemployment rate is remarkably low. The economy is strong. And more than 3 million Americans will receive bonuses due to the tax cuts. Even more will see pay increases in the coming weeks. We are in a euphoric economic moment, and pulling along the rest of the world.
This president has, in many respects, done what an American government should do: Allow citizens to leverage their freedom and creativity to build a brighter future. I'm excited to see what will happen in the year to come, as leaders from different sectors, branches and parties join the president in working toward the "new American moment" and revitalizing the American dream.
- Shapiro is president and CEO of the Consumer Technology Association (CTA)™, the U.S. trade association representing more than 2,200 consumer technology companies, and author of the New York Times best-selling books, "Ninja Innovation: The Ten Killer Strategies of the World's Most Successful Businesses" and "The Comeback: How Innovation Will Restore the American Dream." His views are his own. Connect with him on Twitter: @GaryShapiro
