Regional Economic Models Inc. projects enactment of STEP Act would result in GDP loss of $824 billion and private investment decline of $612 billion over a 10-year period.
Anew Democratic proposal to increase the capital gains tax could cost 745,000 jobs, a study published by the Regional Economic Models Inc. (REMI) projects.
The Sensible Taxation and Equity Promotion (STEP) Act, which would tax unrealized capital gains when heirs inherit assets, among other things, would have a “significantly negative impact” on the economy, including average job losses of 745,000 over 10 years, the report found.
The analysis, conducted for the Committee to Unleash Prosperity, found that sustained annual job losses from eliminating a tax benefit on appreciated assets known as the step-up in basis could eliminate between 537,000 to 949,000 jobs, with models predicting a base of 745,000 lost jobs through 2030.
Great job!!!!
Time to put an END to Tax & Spend Democrats > FIRE THEM ALL !!!!
Americans are Taxed to Death = Communism !!!!!
Is this the bill that they are running ads telling people to support?
Tax and Spend is all they know!
Funny how the word “equity” for Democrats always involves
taking things away from people.
Democrats care NOT about jobs , they want to keep you on the Govt $$$$ to control you more !!!!