Tax Cuts a Poor Strategy for Growth
Some members of General Assembly have repeatedly claimed that elimination or deep cuts to personal income tax rates, especially on high-wealth individuals can solve our high unemployment and sluggish economic growth.
New research from the Center on Budget and Policy Priorities released this morning finds that pursuit of such policies are not worth the risk.
After comparing the economic performance of those states that pursued deep cuts in the 1990s and 2000s and those that did not, it turns out high tax cut states have grown far slower. Read the full report for details.