Broadcaster Press 9 July 31, 2018 www.broadcasteronline.com Economy Is Improving, But Trade Instability Must Be Addressed By Sen. Mike Rounds Across the country, Americans are experiencing the benefits that come from a healthy, growing economy. In just the month of June, 213,000 new jobs were created and more than 600,000 people reentered the work force. Since the Tax Cuts and Jobs Act was signed into law, nearly 1.3 million jobs have been created. This growth is due in large part to policies enacted by the current Congress and the Trump Administration. In addition to strong job numbers, retail sales have increased for the fifth consecutive month. Consumers feel confident in the economy once again and because they are paying less to the government in taxes, they are free to spend their hard-earned dollars how they see fit. Their spending provides a boost to businesses, who are then able to hire more workers to meet demand and pay their employees higher wages. This is a win-win-win for consumers, American businesses and employees. Congress and the White House have also been able to work together on reforms to the Dodd-Frank Act, which has saddled our financial institutions with burdensome regulations and hindered their ability to serve their customers. Earlier this year, the president signed into law the Economic Growth, Regulatory Relief and Consumer Protection Act, which included a number of provisions that I offered. This law provides relief to smaller, community banks and credit unions that had no part in the financial crisis but were subject to the same regulations after the fact that were put in place to keep big banks in check. When South Dakota’s banks and credit unions don’t have to spend so much on compliance costs, they can offer more services to customers and support businesses in their communities, which helps our economy flourish. I serve on the Senate Banking Committee, which recently held a hearing to receive an economic update from Federal Reserve Chairman Jerome Powell. He reported that Americans are optimistic about the state of our economy and about finding a goodpaying job. I appreciated our discussion about the positive impact the Tax Cuts and Jobs Act, as well as the reduction of burdensome regulations, is having on our Gross Domestic Product (GDP) growth rate this year. Like Chairman Powell, I believe we have a very good opportunity for continued GDP growth. However, I shared with him my concern that trade instability—especially for the ag industry—will stifle our ability to reach our full economic potential. Without strong trading deals, I fear we may begin to lose some of the gains we’ve made in growing our economy. It is up to the White House to finalize trade deals with our partners in Canada and Mexico, as well as the Trans-Pacific Partnership (TPP) countries, as soon as possible. Retaliatory tariffs from China on South Dakota products like corn, wheat and soybeans has cost producers in our state more than $810 million in value just since March 1. With the farm economy down more than 50 percent in South Dakota over the past five years, we need stability in our commodity prices and we need strong trade deals in place—right now. More Bang for Your Buck! 10,800 copies distributed with 27,000 readers per issue and now in a larger, reader-friendly format! Call 624-4429 to get your ad in! Irrigation Sales & Service Irrigation PVC, Wire Installed, Well Drilling Domestic & Irrigation Pump Installation WATERLINE & ELECTRIC TRENCHING Tree & Concrete Removal, Site Clearing, & Ditch Trenching ALL TYPES OF DIRT WORK - FREE ESTIMATES Bobcats • Crane • Dozers • Excavators • Grader Grain Trailer • Scrapers • Side Dumps • Trenchers Vermillion, SD (605)670-9567 Hartington, NE (402)254-2568 Licensed in SD, NE & IA We’ll continue working to improve the economy for all Americans, and that means pushing for fair, strong trade deals. We are pleased to see that businesses are flourishing and workers are making more money, but we can’t let trade instability become an obstacle on our way to record-high economic growth. Color, Style, and a Winning Personality Broadcaster Press Call 624-4429 today to get your ad in the Broadcaster Press. Our graphic design staff will create a unique, personalized ad that will help your business stand out from the crowd! 201 W Cherry, Vermillion • Fax: 624-2696 • BroadcasterOnline.com Clay County Fair August 9-11, 2018 Vermillion, SD Follow Us On Facebook Thursday, August 9, 2018 8-11 am 12-9 pm 1-8 pm 1-9 pm 1-7 pm 1-7 pm 1-8 pm 1-3 pm 1 pm 2-4 pm 3 pm 3 pm 3-7 pm 4-5:30 pm 4:30 pm 5 pm 5-7 pm 5:30-7 pm 5:30-6:30 pm 5:30 pm 5:30 pm 5:30 pm 6:30 pm 6:30 pm 7:30 pm 6:30-8:30 pm Beef, Sheep, Swine, Goat, Rabbit, Poultry - weighed & checked-in Open Class & 4-H Exhibit Building Open Vendor Booths Open (Clover Hall) Inflatables National Park Service Mobile Ranger Station Sanford Mega Heart Hy-Vee Health Screening Bus Hy-Vee Biometric Screenings ($40, plus $10 Hy-Vee gift card) Companion Animal Show (South End of Rabbit Barn) Fair Princess Pageant (Main Stage) Storytime/Crafts with Vermillion Public Library (Clover Hall) 4-H Poultry Show (Rabbit Barn) Farmers Market (High Street) Free Kids 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Inflatables 4-H Goat Show (Covered Arena) Hy-Vee Biometric Screenings ($40, plus $10 Hy-Vee gift card) Military Equipment Display (High St) Sanford Mega Heart Vendor Booths Open (Clover Hall) VA Mobile Vet Center/Sioux Falls VA Health Care System Elaine Peacock (Main Stage) 4-H Rabbit Show (Rabbit/Poultry Barn) Local Fare at the Fair with Salsa Competition (Rabbit Barn) Dairy Foods Contest (South end of Rabbit Barn) Barnyard Olympics Sign up Arena Gates & Beverage Garden Open Barnyard Olympics (Open Arena) Robotics Demonstration (Clover Hall) Matt & Joe Acoustic Jam (Main Stage) Chainsaw Carving (Auction Saturday at 4 pm) Ice Cream Social Celebrity Donkey Races (Open Arena) Warning Shots Street Dance (Main Stage) Saturday, August 11, 2018 9 am-9 pm 9-11 am 9 am 10 am 10 am-8 pm 10 am 12 pm 12-4 pm 12-1 pm 12-9 pm 12-8 pm 12-8 pm 1-4 pm 1 pm 2 pm 2 pm 3 pm 3-5 pm 4-6 pm 4 pm 5 pm 7 pm Open Class & 4-H Exhibit Building Open Pancake Breakfast by 4-H Ambassadors Baby Beef Show (Covered 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