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1 Kyle Pomerleau, Details and Analysis of Governor Jeb Bush's Tax Plan 1 (2015)

handle is hein.taxfoundation/dagjbustp0001 and id is 1 raw text is: TAXS FOUNDATION FISCAL FACT Sept. 2015 No. 479 Details and Analysis of Governor Jeb Bush's Tax Plan By Kyle Pomerleau Economist Key Findings Governor Jeb Bush's tax plan would reform both the individual income tax and the corporate income tax and eliminate a number of complex features in the current tax code. According to the Tax Foundation's Taxes and Growth Model, the plan would significantly reduce marginal tax rates and the cost of capital, which would lead to a 10 percent higher GDP over the long-term. * The plan would also lead to a 28.8 percent larger capital stock, 7.4 percent higher wages, and 2.7 million more full-time equivalent jobs. The Governor's plan would cut taxes by $3.6 trillion over the next decade on a static basis. However, the plan would end up reducing revenue by $1.6 trillion over the next decade when accounting for the additional economic growth created by the plan. * The plan would cut taxes and lead to higher after-tax incomes for taxpayers at all levels of income. The Tax Foundation is a 501(c)(3) non partisan, non profit research institution founded in 1937 to educate the public on tax policy. Based in Washington, D.C., our economic and policy analysis is guided by the principles of sound tax policy: simplicity, neutrality, transparency, and stability. ©2015 Tax Foundation Distributed under Creative Commons CC BY NC 4.0 Editor, Melodie Bowler Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 taxfoundation.org