President Donald Trump has claimed credit for generally improving economic indicators even though many were already trending upward under the administration of his predecessor Barack Obama. | Saul Loeb/AFP/Getty Images Trump: U.S. economy will soar if Congress approves tax cuts

The package of tax cuts and reforms backed by the White House will push the already soaring stock market to further heights, President Donald Trump wrote online Wednesday morning, pitching his proposal as fuel for an economy that has remained strong since his election last year.

“Stock Market has increased by 5.2 Trillion dollars since the election on November 8th, a 25% increase,” the president wrote on Twitter on Wednesday. “Lowest unemployment in 16 years and if Congress gives us the massive tax cuts (and reform) I am asking for, those numbers will grow by leaps and bounds. #MAGA”


Without a major legislative achievement to hang his hat on, Trump and his backers have often pointed to the success of the stock market in his presidency’s opening months as evidence that his policies, including proposed tax reform and the repeal of dozens of government regulations, have strengthened the economy. Trump has claimed credit for generally improving economic indicators even though many were already trending upward under the administration of his predecessor, Barack Obama.

Wednesday morning, Trump also lobbed insults at the news media and Democrats, accusing the former of ignoring the stock market’s growth on his watch and the latter of desiring higher taxes and “crime-producing borders.”

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“It would be really nice if the Fake News Media would report the virtually unprecedented Stock Market growth since the election. Need tax cuts,” Trump wrote online. “The Democrats want MASSIVE tax increases & soft, crime-producing borders. The Republicans want the biggest tax cut in history & the WALL!”