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Koch Groups Call on Republicans to Cut Taxes

Image: Koch Groups Call on Republicans to Cut Taxes
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By    |   Thursday, 20 Jul 2017 09:49 AM

Two groups backed by Republican financiers Charles and David Koch are calling for Republicans to pass tax cuts, according to the Washington Examiner. 

Americans for Prosperity and Freedom Partners released an analysis of previous tax cuts that occurred during the administrations of Presidents Kennedy, Reagan, and George W. Bush, with the conclusion that those reductions sped up economic growth.

Federal tax receipts increased after tax cuts from those presidents, according to the analysis:

  • Kennedy's tax cuts: $283 billion increase.
  • Reagan: $400 billion increase.
  • Bush: $227 billion increase.

The economy also added millions of jobs after the cuts:

  • Kennedy's tax cuts: 9.3 million jobs.
  • Reagan: 1.7 million jobs.
  • Bush: 6.9 million jobs.

"Washington has a real opportunity if lawmakers come together to pass the right kind of reform, creating a system more equitable for individuals, more predictable for businesses, and fairer, flatter, and simpler for everyone," the analysis said.

"Critics of tax reform have argued for years that tax cuts will decrease federal revenues, favor the rich, or hurt the economy. Not only were they proven wrong, but revenue increased, the economy grew, and all Americans reaped the benefits," said Mary Kate Hopkins, federal affairs deputy director for Americans for Prosperity, told the Examiner.

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Two groups backed by Republican financiers Charles and David Koch are calling for Republicans to pass tax cuts, according to the Washington Examiner.
koch brothers, group, GOP, tax cuts
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2017-49-20
Thursday, 20 Jul 2017 09:49 AM
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