Donald Trump’s administration is trying to move quickly on tax reform, which is expected to boost the economy by about 2 percent, according an economic analysis by economists at the University of Michigan.
The analysis, published Monday, found that Trump’s proposed changes would create between $3 trillion and $5 trillion in additional revenue.
The White House had been trying to push the report’s release earlier this month, but Trump delayed it, according a White House official.
The report is a preliminary look at how the tax plan would affect the economy.
It is the latest in a series of economic analyses that the administration is pushing to spur the economy, particularly during a period of heightened uncertainty.
Trump’s proposal, which was first announced in December, includes an expansion of child tax credit, a $1,000 tax credit for businesses, and a reduction in the corporate tax rate from 35 percent to 21 percent.
The plan also calls for an extension of tax deductions for mortgage interest, charitable donations, and state and local income taxes.
Economists at the Michigan Center for Economic Growth and the National Bureau of Economic Research analyzed the tax reform plan, which Trump released last month, and found that it would create an additional $2 trillion in revenue.
Trump promised during the campaign that he would cut the corporate rate to 15 percent and eliminate deductions for businesses and the wealthy.
But that promise has not been fulfilled, and the president has not released his tax returns, which are required by law to be filed every year.
The study also found that the plan would increase economic growth by between 2 and 4 percent, depending on how the changes are calculated.
The tax plan was supposed to raise $1.5 trillion over the next decade, the study found.
“The tax reform will create an extra $3.4 trillion in gross domestic product by 2027,” said Michael Regehr, director of the Michigan Economic Research Center.
“It is unlikely that the tax overhaul alone will bring this additional growth to the economy.” The White