A new report from the non-partisan Tax Foundation shows that the Senate and House conference report of the Tax Cuts and Jobs Act will lead to faster economic growth, more jobs and higher wages.
The report found that tax reform would:
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Boost GDP 1.7 percent in the long term. In the short term, they predict the economy would grow by 2.45 percent next year, compared to projections of 2.01 percent growth under current law.
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Create 339,000 new full-time equivalent jobs in the long term.
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Increase wages by 1.5 percent in the long term.
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Increase federal revenues by $600 billion from economic growth.
For more information visit finance.senate.gov/taxreform.
Source: Ranking Member’s News
