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Pence Touts US Economy At Detroit Economic Club Luncheon

The VP gave high praise to the U.S. economy.

August 19, 2019 - 5:23 pm

DETROIT (WWJ) -- Vice President Mike Pence lauded the U.S. economy Monday afternoon, speaking to the Detroit Economic Club at the Motor City Casino. Focusing on the economy and energy policies under President Donald Trump, Pence said the tax cuts that have been passed under the Trump Administration have provided a boost for families.

Pence says the administration has lowered corporate tax rates so companies in Michigan can compete not only within the state, but globally.

"We also cut taxes for working families. And now the typical family of four in Michigan is saving about $2,000 a year," Pence said.

Pence received a warm welcome from the crowd of 300 Detroit Economic Club members, with frequent applause, though not a campaign rally atmosphere. 

"Businesses large and small have created more than 6.2 million jobs and there are more Americans working today than ever before in the history of this country," Pence said.

With Ben Carson, secretary of the U.S. Department Housing and Urban Development, also on-hand Monday, Pence praised leadership for recent economic growth.

"With this President’s leadership and with the strong support of Secretary Carson, we’ve already created more than 8,700 opportunity zones across America, including 70 right here in Detroit," Pence said.

Opportunity Zones are "economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment," according to the IRS. "Localities qualify as Opportunity Zones if they have been nominated for that designation by the state and that nomination has been certified by the Secretary of the U.S. Treasury via his delegation of authority to the Internal Revenue Service."

Pence's speech, which lasted nearly 30 minutes, covered a wide array of topics, from tariffs and the ongoing trade war with China, to the new trade deal with Mexico and Canada that still has to be approved by Congress. He used that to go after the Democratic presidential hopefuls.

"Not one of the 20 candidates who stood on that stage is supporting the USMCA. In fact, several of the leading candidates actually oppose this new trade agreement with Canada and Mexico," Pence said.