Terri
05-28-2003, 08:25 AM
Report: New Tax Law Will Create Jobs And Grow The Economy
By Jimmy Moore
Talon News
May 28, 2003
WASHINGTON (Talon News) -- The Jobs and Growth Tax Relief Reconciliation Act of 2003 will create 800,000 new jobs and grow the economy by $73 billion according to a new analysis by the Heritage Foundation's Center for Data Analysis (CDA).
In the policy paper titled "Economic Impact Analysis of the Jobs and Tax Relief Reconciliation Act of 2003," the tax cut bill that passed the U.S. House and Senate on May 23 was closely examined by the CDA for how it will effect the U.S. economy.
Expert economists at the CDA tested the new law on a model of the U.S. economy that is popular with many Fortune 500 companies as well as government agencies. The analysis looked at the economic impact the tax cuts will have between the years 2003 and 2013.
In the next five years, the new tax cuts will continue to stimulate the economy and spur job growth, including $35 billion in added revenue and 400,000 new jobs each year. However, these numbers begin to dip substantially after 2008 when the tax cuts are scheduled to end.
Full Story (http://www.gopusa.com/news/2003/may/0528_heritage_analys is.shtml)
By Jimmy Moore
Talon News
May 28, 2003
WASHINGTON (Talon News) -- The Jobs and Growth Tax Relief Reconciliation Act of 2003 will create 800,000 new jobs and grow the economy by $73 billion according to a new analysis by the Heritage Foundation's Center for Data Analysis (CDA).
In the policy paper titled "Economic Impact Analysis of the Jobs and Tax Relief Reconciliation Act of 2003," the tax cut bill that passed the U.S. House and Senate on May 23 was closely examined by the CDA for how it will effect the U.S. economy.
Expert economists at the CDA tested the new law on a model of the U.S. economy that is popular with many Fortune 500 companies as well as government agencies. The analysis looked at the economic impact the tax cuts will have between the years 2003 and 2013.
In the next five years, the new tax cuts will continue to stimulate the economy and spur job growth, including $35 billion in added revenue and 400,000 new jobs each year. However, these numbers begin to dip substantially after 2008 when the tax cuts are scheduled to end.
Full Story (http://www.gopusa.com/news/2003/may/0528_heritage_analys is.shtml)