Watchdog Group Releases New Poll Showing Economic Uncertainty as Tax Cuts are Set to Expire

For Immediate Release
Contact: Kara Zupkus (224) 456-0257

WASHINGTON, D.C. – The Taxpayers Protection Alliance (TPA) released new polling and analysis on Wednesday highlighting the severe economic cost of ongoing uncertainty surrounding tax policy in the United States.

As debate rages in the halls of Congress about whether to extend the tax cuts enacted by the 2017 Tax Cuts and Jobs Act, businesses across the country are awaiting guidance from lawmakers on how their operations will be impacted. These impacts could prove significant – perhaps devastating – should certain provisions not be renewed.

Some highlights:

• More than 75 percent of respondents stated that there is at least some tax policy uncertainty facing their business and one-third of respondents stated that there is substantive or very high tax policy uncertainty.

• Complete elimination of this tax policy uncertainty is estimated to increase US jobs by 2.9 percent (4.7 million jobs), on average, in each of the next 5 years, and by 1.1 percent (1.8 million jobs) in each year thereafter.

• Even a slight move from “some” tax policy uncertainty to “a little” uncertainty would create an average of 2.6 million new jobs.

In response, TPA President David Williams offered the following comment:

“These results speak for themselves. Nobody at TPA was surprised by these results and we suspect nobody outside of the organization will be surprised. Businesses around the country need to know the path forward. Tax uncertainty creates risks and harms for businesses and consumers. Uncertainty threatens investment and innovation in the American economy. Congress should act swiftly to renew the expiring tax cuts, making America more competitive, bolstering economic growth, and delivering tax certainty for families.”

Ernst and Young conducted the poll and research on behalf of TPA. Read the full polling memo and results here. 

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