State Corporate Income Tax Analysis

Taxes Have Consequences i.) In the two years following Trump's tax cuts, relative to the two years preceding Trump's tax cuts: Real GDP Growth: U.S. vs. Eurozone (quarterly, 1Q-16 to 4Q-19, qtr/same qtr previous yr) 3.5% Obama Trump 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% Tax Cuts and Jobs Act December 2017 0.0% 1Q-16 3Q-16 1Q-17 3Q-17 1Q-18 3Q-18 1Q-19 3.5% 3.0% 2.5% U.S. 2.0% 1.5% 1.0% Eurozone 3Q-19 0.5% 0.0% Source: Eurostat, Bureau of Economic Analysis Real GDP: U.S. vs. Eurozone (quarterly, 1Q-16 to 4Q-19, indexed: 1Q-16=100)

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