The National Federation of Independent Businesses points out the small business optimism index hit a 12-year high in December, rising to 105.8 from 98.4 the previous month, which was the biggest one-month gain since 1980.

CNN Money says, “Expectations for better sales and more favorable business conditions in the next six months under President-elect Donald Trump and the Republican-led Congress accounted for the lion’s share of the increase.”

And the December results confirmed the “euphoria” seen in its November survey, the NFIB announced. The percent of businesses expecting better business conditions in the next six months increased 50 percent in December over November’s 12 percent reports. Business owners are also said to expect higher wages, more expansion, and more capital spending in the months ahead. That’s attributed in part to the president-elect’s claims to cut taxes and repeal the Affordable Care Act, which has been costly for small businesses.

The increase in positive outlook comes after consumer confidence reaches higher numbers than it has seen in 15 years. Read the full article at CNN Money.