close

Sign Up

For the latest Connecticut news, straight to your inbox.

View Privacy Policy

Tax Foundation: GOP Tax Cuts to Create 14,000 Jobs in Connecticut Over 10 Years

August 1, 2018 By Staff
Tax Foundation: GOP Tax Cuts to Create 14,000 Jobs in Connecticut Over 10 Years

The Tax Foundation released updated estimates this week of how many jobs the GOP-passed tax cuts will create in each state.

According to an updated study from the Tax Foundation, the tax cuts passed by a GOP Congress and President Trump in late 2017 will create 13,821 jobs in Connecticut between 2018 and 2027.

Here’s how it breaks down each year:

  • 2018: 2,444 jobs created
  • 2019: 2,830 jobs created (5,274 cumulative)
  • 2020: 2,750 jobs created (8,024 cumulative)
  • 2021: 2,399 jobs created (10,423 cumulative)
  • 2022: 1,739 jobs created (12,162 cumulative)
  • 2023: 1,739 jobs created (13,901 cumulative)
  • 2024: 1,455 jobs created (15,356 cumulative)
  • 2025: 1,045 jobs created (16,401 cumulative)
  • 2026: 1,080 jobs lost (15,321 cumulative)
  • 2027: 1,500 jobs lost (13,821 cumulative)

The Tax Foundation suggests the reason Connecticut (and the U.S. overall) loses jobs in 2026 and 2027 is due to the individual income tax changes expiring in 2025. Some Republicans on Capitol Hill want an effort to make those changes permanent.

As Reclaim Connecticut reported in December, all seven members of Connecticut’s congressional delegation voted against the tax cuts. Sen. Richard Blumenthal (D-Conn.) called them an “abomination.” Sen. Chris Murphy (D-Conn.) suggested the bill is “shameful.” Rep. Elizabeth Esty (D-Conn.) said the tax cuts were “awful.”