House Speaker Mike Johnson (R-La.) said American workers were “WINNING again,” pointing to tax breaks, job creation, investment and a resurgence in domestic manufacturing under Republican policies.
Johnson Touts Jobs, Tax Cuts and Manufacturing
On Monday, in a post on X, Johnson credited Republicans with improving economic opportunities for American workers.
“The American worker is WINNING again!” he wrote, adding that “hardworking Americans have more opportunities and can keep more of their own hard-earned money.”
Johnson highlighted several economic developments, including “Bigger paychecks” and “No Tax on Tips or Overtime.”
He also said that “ONE MILLION private-sector jobs” had been added.
The Republican leader further pointed to “TRILLIONS in investment coming into America” and described the trend as “A MADE IN AMERICA comeback.”
Johnson said, “American manufacturing is BOOMING.”
U.S. manufacturing activity expanded for the eighth consecutive month in August, with the ISM Manufacturing PMI falling to 54.6% from 55.6% in July. New orders, backlogs and imports weakened, while production remained strong and prices stayed elevated at 71.1%.
The National Association of Manufacturers said manufacturers contributed $3 trillion at an annual rate to the U.S. economy in the first quarter of 2026, while manufacturing employed nearly 12.6 million workers.
Bessent Touts Manufacturing Revival
Last week, Treasury Secretary Scott Bessent said Trumpâs “America First” policies were driving a manufacturing revival by boosting construction and factory investment.
He argued construction jobs in factory-related sectors were growing “10x faster than under Biden” and said the policies were creating conditions for “greater investment, stronger supply chains, and more opportunities for wage growth.”
Bessent added, “This construction renaissance will continue to drive our manufacturing renaissance.”
Treasury Yields Face Fiscal Concerns
On Tuesday, Economist Robin Brooks warned that Treasury yields were rising despite weaker U.S. economic data, saying the marketâs underlying dynamic was “worse than meets the eye.”
He argued that investors were increasingly focused on the U.S. budget deficit, “regardless of what data surprises are doing.”
Similarly, Investor Peter Schiff rejected the view that yields were rising because of a strong economy.
He said it was “ridiculous” to dismiss factors including “increased inflation expectations, a loss of confidence in U.S. fiscal policy, declining Fed credibility” and de-dollarization.
Meanwhile, the U.S. economy had added 162,000 jobs in August, beating expectations of 56,000, while unemployment had held at 4.1%.
Food services and local government education had led job gains, while the information sector had lost 23,000 jobs. Average hourly earnings had risen 0.3% from the previous month.
Disclaimer:Â This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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