The National Association of Manufacturers today released a major economic analysis documenting the impact on the economy and jobs creation of several policy changes. The report was conducted by the Milken Institute, a nonpartisan and independent think tank in Santa Monica, that used respected and rigorous economic models to assess the impact of proposals.
The report is “Jobs for America,” and the Milken Institute has put up a website with the full study, explanatory slides, and other material: http://www.milkeninstitute.org/jobsforamerica/
“Jobs for America” concludes that proposed corporate tax cuts, export control reforms and key infrastructure investments could create more than 11 million jobs in the U.S. by 2019.
• Reducing the U.S. corporate income tax to match the average of other industrial countries (OECD nations) would boost total employment by 2.1 million jobs.
• A permanent R&D tax credit, increased by 25 percent, could generate 510,000 jobs within a decade.
• Modernizing U.S. export controls would expand exports in high-value areas, increasing total employment by 340,000.
• Investing $425.6 billion across 10 infrastructure categories (including highway and transit, energy efficiency, wastewater treatment, Smart Grid, nuclear, etc.) would generate 10.7 million jobs over three years.
“Jobs for America” provides the substantive economic analysis that should guide policymakers with a clear course of action if, as many assert, jobs is the No. 1 facing the country.
See also NAM release, “New Study Gives Roadmap for U.S. Job Creation and Long-Term Growth“