Washington, DC – -(Ammoland.com)- The non-partisan Tax Foundation recently released their new analysis of the Tax Cuts and Jobs Act. Their reports show across the board savings and cuts for Americans all across the country.
The Tax Foundation estimates “that the plan would result in the creation of roughly 975,000 new full-time equivalent jobs, while increasing after-tax incomes by 4.4 percent in the long run. The increase in family incomes is the result of both the income tax cuts and the broader rise in productivity and wages due to economic growth. These estimates take into account all aspects of the Tax Cuts and Jobs Act, including changes to the individual and corporate tax codes.”
The top line numbers for the country are the following: United States – 975,000 new jobs with an average income gain of $2,598
“This is great news for the hardworking people of America. The Tax Foundation's findings come on the heels of the Council of Economic Advisors estimating that our tax plan will boost income for a typical American family by over $4,000. So when the President said our plan would give the American people ‘a big, beautiful present for Christmas,' he really meant it.” – White House spokeswoman Lindsay Walters
See the state-by-state numbers below:
|Estimated FTE Jobs Added (10-Year Estimate)||Estimated Gain in After-Tax Income for Middle-Income Family (10-Year Estimate)|
|District of Columbia||5,274||$3,123|