Tax Cuts and Employment Growth in New Jersey: Lessons from a Regional Analysis  

Oleh:

Reed, W. Robert ; Rogers, Cynthia L.

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: Public Finance Review vol. 32 no. 3 (Mei 2004), page 269-291.
Topik: income tax; tax cuts; state fiscal policy; New Jersey; employment growth
Fulltext: 269PFR323.pdf (276.38KB)

Isi artikel

The Whitman administration’s 30% reduction in New Jersey’s personal income taxes from 1994 to 1996 is prominently cited as a role model for state fiscal policy. The authors investigate whether the growth benefits attributed to the Whitman tax cuts are warranted. Panel data methods are applied to annual observations of county-level employment growth fromNewJersey and the surrounding economic region. This study’s analysis does not support the hypothesis that tax cuts stimulated employment growth inNew Jersey. Although New Jersey did experience substantial employment growth subsequent to the tax cuts, most of this growth was shared by the nearby Economic Areas.

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