Study: tax reform to add 13.8K jobs to Connecticut economy
Federal tax reform should result in Connecticut employers adding 13,800 jobs in the coming decade, according to an economic model from a Washington, D.C. think tank, including 2,450 jobs this year.
On Thursday, the Tax Foundation expanded its 2018 jobs analysis to cover through 2027, two years after the expiration of individual reporting elements of the Tax Cuts and Jobs Act passed by Congress in December 2017.
The Tax Foundation estimates that new U.S. individual corporate and individual tax rates will contribute to 215,000 new jobs nationally this year, and more than 1.2 million additional hires over 10 years while raising average wages.
Connecticut hiring would peak in 2025 with 16,400 additional jobs on a cumulative basis, with U.S. employers having added 1.44 million full-time equivalents over that span.
Alex.Soule@scni.com; 203-842-2545; @casoulman