A new analysis suggests that President Donald Trump’s proposed tax breaks for oil refiners could be valued at more than $400 trillion, an estimate that has been widely used to support his tax cuts and the administration’s efforts to fight climate change.
The analysis from the Brookings Institution, an independent research and policy organization, uses data from the U.S. Census Bureau and a variety of other sources to estimate the value of Trump’s tax break packages for the industries and industries-related companies that comprise the bulk of U.N. trade.
It shows that the tax breaks alone could generate $6 trillion in tax revenues and more than 3 million jobs.
The study also shows that there could be $6.5 trillion in additional tax revenues from other sources, including infrastructure spending.
The Tax Policy Center, a nonprofit research and advocacy organization, found that if Trump’s $4 trillion-plus tax package included all the other proposed tax cuts, the net result would be more than a trillion dollars in new tax revenue, while at the same time increasing U.R.O.s to U.O.-type industries.
The tax breaks could also lead to job creation in the industries where they’re offered, the study said.
Trump has promised that his tax policies will create millions of new jobs, but it’s unclear how much of a payoff they will deliver.