Robert Barro and Jason Furman: The macroeconomic effects of the 2017 tax reform

Should-Read: Can someone with a larger tolerance for reading… than I have tell me how Robert J. Barro trimmed his estimate of the effects of the Trumpublican tax cut bill from “smaller than 8.4%…. not by much… I made a rough downward adjustment of the long-run level effect from 8.4% to 7%…” to 0.4%?: Robert Barro and Jason Furman: The macroeconomic effects of the 2017 tax reform: “The result is that GDP would rise by 0.4 percent in the law-as-written case…

…and by 1.2 percent in the provisions-permanent case. These results imply that the annual GDP growth rate over the 10-year horizon rises by 0.04 percentage point in the law-as-written case and 0.13 percentage point in the provisions-permanent case…