The following excerpt is from an article that originally appeared on Liberty News Now
The Senate’s version of the Tax Cuts and Jobs Act is expected to create 925,000 new jobs increase GDP by 3.7% above it’s current rate.
The Senate Finance Committee Chair, Orrin Hatch said that the tax reform proposal would be giving a typical family of four a tax cut of roughly $1,400.
“The Senate’s version of the Tax Cuts and Jobs Act is a pro-growth tax plan, which, when fully implemented, would spur an additional $1.26 trillion in federal revenues from economic growth.” the Tax Foundation stated. “These new revenues would reduce the cost of the plan substantially.”
The Tax Foundation estimates the tax reform proposal to actually lead to the creation of 925,000 new full-time jobs in the long run and the plan would boost the gross domestic product by 3.7%. Thepost was originally published on this site