Trump's Tax Cuts Boosting Economic Confidence

Congress about to pass massive change.

President Donald Trump used a speech on national security to tout the massive tax cut that is about to be passed by Congress and signed into law by the end of the year, just as economic indicators appeared to show an economy roaring ahead on all cylinders.

"We are days away from passing historic tax cuts for American families and businesses. It will be the biggest tax cut and tax reform in the history of our country," the president said:

His comments came as the Dow closed at another record high reports CNBC:

The Dow Jones industrial average jumped 144 points and notched its 70th record close of the year. The S&P 500 gained 0.6 percent to a record close, with materials and telecommunications as the best-performing sectors. The Nasdaq composite also finished at an all-time high, advancing 0.8 percent and briefly topped 7,000 for the first time.  

The Dow Jones industrial average has gained more than 5,000 points this year. And it seems consumer confidence is higher and Americans are feeling good about the nation's economy:

The CNBC All-American Economic Survey found that for the first time in at least 11 years, more than half of respondents to the survey rated the economy as good or excellent, while a near record 41 percent expected the economy to improve in the next year.  

"We're not measuring a marginal change in the economy, we're measuring a different economy,'' said Public Opinion Strategies' Micah Roberts, the Republican pollster for the survey. The poll of 800 adults across the nation, with a margin of error of 3.5 percentage points, was conducted Dec. 10-13 by that firm and Democratic pollster Hart Research.  

The improving economy is also having an impact on Trump's approval rating,with 42% now saying they approve of the job he is doing, up 4 points from September. Those disapproving are down three points to 49%.

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