New Analysis: Senate Tax Bill Delivers Strong Economic Growth

Finance Committee Proposal Grows the Economy by 3.7 Percent

A new study by the Tax Foundation found the Senate Finance Committee’s proposal to overhaul the nation’s broken tax code would spur new job creation, boost wages for American workers, and expand the economy here at home. According to the analysis, the measure’s one-year delay on the corporate tax rate coupled with immediate expensing and shorter asset lives for structures would yield a significant jump in economic growth next year. Here is a look, by the numbers. 

The Finance Committee Proposal: 

• Increases the size of the economy by 3.7 percent

• Increases wages by 2.9 percent

• Creates nearly 1 million new jobs

• Increases average growth in the economy by nearly 0.4 percent relative to growth in the absence of the tax plan

• Provides more than $1.2 trillion of additional revenue for the federal government from positive economic effects

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