The Biden tax plan could cost America 1 million jobs

The Biden tax plan could cost America 1 million jobs

  • Post published:April 13, 2021
  • Post category:News

A study recently released by the National Association of Manufacturers analyzes the potential economic impact of the Biden administration’s proposed tax increases on American jobs. Why? Lawmakers are considering reversing course from the 2017 tax reforms by raising rates and phasing out key deductions, making it much more costly to do business in the United States. The report shows the impact of these proposed changes would be bad for our economy and for jobs. In fact, the study finds that the proposed package of tax increases would cost the U.S. 1 million jobs within two years after implementation and lead to a loss of 600,000 jobs on average each year over the next decade. You can read a summary of the study’s findings here or view the full analysis here.

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