Trump’s payroll tax cut boosts blacks ‘most,’ could add 2M-3M jobs
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Black workers, the economy, and the jobless would benefit from President Trump’s proposed payroll tax cut, part of the negotiations for a new coronavirus stimulus package, according to an anti-tax group.
In a new report provided to Secrets, the Committee to Unleash Prosperity said that Trump’s No. 1 goal of cutting taxes will help African Americans “disproportionately” because they pay more in paycheck taxes, according to studies.
In addition, the study, which was authored by outside Trump adviser Stephen Moore and Casey Mulligan, a former Trump chief economist for the Council of Economic Advisers, said that the cut could lead to the creation of 2 million to 3 million new jobs by curbing hiring costs for employers.
And, they said, it could add 1 percentage point to economic growth.
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