‘The Senate Tax Bill … Would Boost The Economy’

‘Higher Wages And … An Additional 925,000 Full-Time Equivalent Jobs’

“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.” (“Senate Bill Would Cut Taxes By $1.78 Trillion, Create 925k New Jobs, Study Finds,” 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.” (“The Senate Tax Cuts And Jobs Act: The Impacts Of Jobs And Incomes By State,” Tax Foundation, 11/10/2017)

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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SENATE REPUBLICAN COMMUNICATIONS CENTER

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