Thursday, November 21, 2024
Hawai'i Free Press

Current Articles | Archives

Saturday, April 15, 2017
Study: House GOP Blueprint Would Put $5613 in Your Pocket, Hawaii
By Selected News Articles @ 4:58 AM :: 4763 Views :: Hawaii Statistics, Taxes

The State-by-State Impact on Jobs and Family Incomes of the House GOP Blueprint

by Scott A. Hodge, Tax Foundation, April 11, 2017 

There have been a raft of studies recently isolating the effect of certain elements of the House GOP tax reform “Blueprint” on various industries and even the 50 states. While it is understandable that interest groups whose business models are tied to a particular provision of the tax code would wish to draw attention to how a specific element of the Blueprint would impact them, it is also important for lawmakers who are subject to a heavy dose of lobbying to recognize that the Blueprint is a comprehensive tax reform plan, so it is important to focus on the total effects of the plan on the economy and families.

Using the Tax Foundation’s Taxes and Growth (TAG) macroeconomic tax model, our analysis found that the “plan would significantly reduce the cost of capital and reduce the marginal tax rate on labor. These changes in the incentives to work and invest would greatly increase the U.S. economy’s size in the long run, boost wages, and result in more full-time equivalent jobs.”

Indeed, the TAG model estimates that the plan would result in the creation of roughly 1.7 million new full-time equivalent jobs, while increasing the after-tax incomes of median households by 8.7 percent. 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 Blueprint, including the impact of the border adjustment.

The table below illustrates the state-by-state impact of the plan for both new jobs and the boost to after-tax incomes for middle-income families.

Impact of the House GOP “Blueprint” on Jobs and After-Tax Incomes by State
Estimated FTE Jobs Added Estimated Gain in After Tax Income for Median Households
United States 1,687,000 $4,917
Alabama 23,062 $3,872
Alaska 3,938 $6,535
Arizona 31,424 $4,546
Arkansas 14,355 $3,723
California 191,767 $5,536
Colorado 30,255 $5,794
Connecticut 19,696 $6,341
Delaware 5,300 $5,025
D.C. 9,154 $6,096
Florida 97,220 $4,248
Georgia 50,850 $4,417
Hawaii 7,566 $5,613
Idaho 8,069 $4,491
Illinois 70,423 $5,256
Indiana 36,036 $4,523
Iowa 18,397 $5,294
Kansas 16,546 $4,773
Kentucky 22,386 $3,688
Louisiana 23,201 $3,995
Maine 7,236 $4,416
Maryland 31,621 $6,403
Massachusetts 41,563 $5,904
Michigan 50,337 $4,716
Minnesota 33,809 $5,980
Mississippi 13,446 $3,483
Missouri 33,131 $5,150
Montana 5,462 $4,471
Nebraska 11,852 $5,261
Nevada 15,043 $4,525
New Hampshire 7,811 $6,584
New Jersey 47,548 $5,947
New Mexico 9,749 $3,925
New York 109,733 $5,046
North Carolina 50,511 $4,419
North Dakota 5,123 $4,995
Ohio 64,194 $4,637
Oklahoma 19,488 $4,096
Oregon 21,351 $5,293
Pennsylvania 68,777 $5,254
Rhode Island 5,735 $4,846
South Carolina 23,939 $4,033
South Dakota 5,046 $4,791
Tennessee 34,517 $4,118
Texas 140,374 $4,913
Utah 16,539 $5,764
Vermont 3,663 $5,176
Virginia 45,763 $5,349
Washington 37,586 $5,850
West Virginia 8,803 $3,726
Wisconsin 34,257 $4,822
Wyoming 3,348 $5,300
Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii Military History

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Together

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

July 4 in Hawaii

Land and Power in Hawaii

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

MentalIllnessPolicy.org

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Parents Org Hawaii

NFIB Hawaii News

NRA-ILA Hawaii

Obookiah

OHA Lies

Opt Out Today

Patients Rights Council Hawaii

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

RailRipoff.com

Rental by Owner Awareness Assn

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

School Choice in Hawaii

SenatorFong.com

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii