"The Senate tax bill introduced Thursday would boost the economy, creating 925,000 new jobs and raising wages by 2.9 percent over 10 years, according to a new analysis released Thursday by the Tax Foundation." Washington Examiner, 11/10/2017)
TAX FOUNDATION: "Our analysis finds that the Senate plan would reduce marginal tax rates on labor and investment. As a result, we estimate that the plan would increase long-run GDP by 3.7 percent." ("Preliminary Details And Analysis Of The Senate's 2017 Tax Cuts And Jobs Act," Tax Foundation, 11/2017)
- "The larger economy would translate into 2.9 percent higher wages and result in an additional 925,000 full-time equivalent jobs." ("Preliminary Details And Analysis Of The Senate's 2017 Tax Cuts And Jobs Act," Tax Foundation, 11/2017)
- "Due to the larger economy and the broader tax base, the plan would generate $1.26 trillion in additional revenue over the next decade on a dynamic basis." ("Preliminary Details And Analysis Of The Senate's 2017 Tax Cuts And Jobs Act," Tax Foundation, 11/2017)
TAX FOUNDATION: "The table below illustrates the state-by-state impact of the plan for both new jobs and the boost to after-tax incomes for middle-income families."
TAX FOUNDATION | ||
Estimated Full-Time Equivalent Jobs Added | Estimated Gain in After-Tax Income for Middle-Income Family | |
United States Total | 925,000 | $2,598 |
Alabama | 12,640 | $2,078 |
Alaska | 2,126 | $3,332 |
Arizona | 17,299 | $2,512 |
Arkansas | 7,853 | $2,020 |
California | 105,410 | $2,932 |
Colorado | 16,622 | $3,105 |
Connecticut | 10,742 | $3,341 |
Delaware | 2,897 | $2,554 |
District of Columbia | 5,004 | $3,123 |
Florida | 53,631 | $2,252 |
Georgia | 28,007 | $2,355 |
Hawaii | 4,143 | $3,174 |
Idaho | 4,454 | $2,489 |
Illinois | 38,465 | $2,701 |
Indiana | 19,721 | $2,468 |
Iowa | 10,046 | $2,600 |
Kansas | 9,019 | $2,500 |
Kentucky | 12,246 | $1,996 |
Louisiana | 12,611 | $1,857 |
Maine | 3,949 | $2,238 |
Maryland | 17,322 | $3,245 |
Massachusetts | 22,784 | $3,180 |
Michigan | 27,672 | $2,512 |
Minnesota | 18,524 | $3,090 |
Mississippi | 7,322 | $1,808 |
Missouri | 18,183 | $2,421 |
Montana | 2,992 | $2,511 |
Nebraska | 6,493 | $2,612 |
Nevada | 8,316 | $2,439 |
New Hampshire | 4,275 | $3,355 |
New Jersey | 26,072 | $3,013 |
New Mexico | 5,314 | $2,132 |
New York | 60,108 | $2,703 |
North Carolina | 27,763 | $2,366 |
North Dakota | 2,782 | $2,648 |
Ohio | 35,063 | $2,375 |
Oklahoma | 10,566 | $2,241 |
Oregon | 11,724 | $2,602 |
Pennsylvania | 37,639 | $2,683 |
Rhode Island | 3,135 | $2,707 |
South Carolina | 13,139 | $2,391 |
South Dakota | 2,768 | $2,528 |
Tennessee | 18,973 | $2,259 |
Texas | 76,949 | $2,558 |
Utah | 9,131 | $2,969 |
Vermont | 2,003 | $2,677 |
Virginia | 25,062 | $2,924 |
Washington | 20,753 | $3,094 |
West Virginia | 4,784 | $1,952 |
Wisconsin | 18,707 | $2,632 |
Wyoming | 1,796 | $2,544 |
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