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“Historical evidence and simulation analysis are consistent with the idea that tax cuts that are not financed by immediate spending cuts will have little positive impact on growth,” says Professor Andrew Samwick, co-author of a new paper titled, “Effects of Income Tax Changes on Economic Growth.”

Samwick is the Sandra L. and Arthur L. Irving ’72a P’10 Professor of Economics and the director of the Nelson A. Rockefeller Center for Public Policy and the Social Sciences.