Boyle Statement on Fourth Quarter 2024 GDP Growth
WASHINGTON, DC — Today, Pennsylvania Congressman Brendan F. Boyle, Ranking Member of the House Budget Committee, released the following statement after the Bureau of Economic Analysis released its initial estimate of fourth quarter Gross Domestic Product (GDP) for 2024. The report indicates that GDP grew at a 2.3 percent annual rate in Q4:
“Another quarter of strong GDP growth is undeniable proof that Democratic policies over the last four years have worked. In 2020, our economy was flat on its back after Donald Trump’s disastrous mismanagement of the federal response to COVID-19. After Trump fumbled the crisis, Democrats got to work—reviving the economy, creating millions of jobs, and taking action to lower costs. But even with this progress, we know too many working families are still struggling. There’s more work to do to ensure this growth benefits everyone—not just those at the top.
Unfortunately, Republicans want to take us backward. Their plan would slap new tariffs on American consumers—nothing more than a tax hike on the middle class. At the same time, they’re pushing a $4.6 trillion giveaway to the ultra-rich and massive corporations while trying to gut essential programs that millions of Americans rely on. These reckless policies wouldn’t just hurt working families—they would stall the very economic growth we’ve worked so hard to achieve.
Democrats will fight back against these harmful Republican proposals. We will continue working to lower costs, protect good-paying American jobs, and build an economy that works for everyone—not just the wealthiest few.”
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