An Analysis of Tax Cut Repercussions

An Analysis of Tax Cut Repercussions

Economic Impact Analysis of the Jobs and Tax Relief Reconciliation Act of 2003 - The Heritage Foundation

Economists at the Center for Data Analysis (CDA) introduced the tax policy changes contained in the Jobs and Growth Tax Relief Reconciliation Act of 2003 (H.R. 2) into a model of the U.S. economy that is widely used by Fortune 500 companies and government agencies. This model produced the following estimates of how H.R. 2 would likely affect economic performance between 2003 and 2013.

• Economy produces more goods and services. . . .
• Over 800,000 new jobs in 2004. . . .
• Personal savings rate jumps . . . .
• Trust fund revenues grow . . . .