Press Releases | Budget, Taxes, and Public Investment

News from EPI Boehner’s “job creation” plan would result in a loss of one million jobs nationwide

For Immediate Release: Thursday, September 23, 2010
Contact: Phoebe Silag or Karen Conner, 202-775-8810

A new Economic Policy Institute analysis of Republican House Minority Leader John Boehner’s recently-proposed two-step job creation plan finds that it would have a net job impact of one million fewer jobs nationwide.  Boehner’s plan, which calls for a cut in non-security-related spending to fiscal year 2008 levels and a two-year freeze on all current tax rates, would drastically reduce the budgets of basic human needs and investment programs while extending the Bush tax cuts for the wealthy.  At a cost of one million jobs, this plan would reduce the deficit by a negligible amount – less than 5.5% in 2011. If his proposed tax policies are made permanent, as he has advocated, it would significantly worsen the long-term budgetary outlook.