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Money and receipts Estimates by some groups said that wage increases could result in family incomes increasing by $4,000 to $9,000 per year, but a CRS analysis found no dramatic increase. (Photo: Bigstock)

A new report from the Congressional Research Service (CRS) is drawing attention for its conclusion that the recent tax cuts passed by Congress will not add much economic growth in the U.S. The report also questioned other selling points of the tax reform, such as the notion it would improve workers’ wages and prompt reinvestment in and add jobs.

The study focuses on the 2017 Tax Cuts and Jobs Act, which was championed by President Donald Trump and passed with the support of Republicans in Congress. It enacted many provisions that its advocates described as pro-business, including a corporate tax cut, revised business taxes and scaled back taxes on equipment and estates. It also cut taxes for individuals, but most of those cuts are scheduled to expire after 2025, in contrast to the permanent tax cuts for corporations.

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