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Wednesday, 8th July 2009

California Could Add Nearly 180,000 New Jobs at No Cost to Taxpayers

California Could Add Nearly 180,000 New Jobs at No Cost to Taxpayers
Source: Pacific Research Institute

California could add some 180,000 new jobs at no cost to taxpayers if the federal estate tax were repealed, according to research by the former director of the nonpartisan Congressional Budget Office, Douglas Holtz-Eakin. The research was conducted for the nonprofit American Family Business Foundation (AFBF) in Washington, DC.

Holtz-Eakin, who served as chairman of the economics department at Syracuse University before going to Washington, estimated in his study that repeal of the estate tax, which impacts mostly small and family business owners and the owners of family farms, would lead to an increase of 1.5 million jobs nationwide. The state estimate is calculated based on the percentage of small-business jobs nationally located in California.

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