Today, we’ve released updated state-by-state analysis of the TaxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. Cuts and Jobs Act. Our Taxes and Growth model estimates that the Tax Cuts and Jobs Act will create 215,000 full-time equivalent (FTE) jobs in 2018.
As we’ve written previously, the Tax Cuts and Jobs Act is a pro-growth tax reform, which will increase long-run GDP, raise wages, and create jobs. While tax changes can take years to materialize, we do expect to see an increase in jobs within the first year.
The table below illustrates the state-by-state impact of the new tax law. You can also use our new interactive map tool to better visualize the updated data here.
|State||Estimated Full-Time Equivalent Jobs Added|
Note: Our original analysis of the Tax Cuts and Jobs Act estimated an increase of 339,000 jobs in the long run from the Tax Cuts and Jobs Act. Those results were after many of the provisions of the Tax Cuts and Jobs Act expired, such as the reduction in individual income tax rates.
|District of Columbia||1,154|