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Washington – Treasury Secretary Steven T. Mnuchin – Treasury Secretary Steven T. Mnuchin received a letter Saturday from nine of the nation’s leading economists addressing the implications of tax reform for economic growth.

“We are very encouraged that findings by this preeminent group of economists supports our strong belief that the tax reform proposals before Congress will lead to substantial economic growth,” Secretary Mnuchin said.

The letter states that 30 basis points is a fair estimate of the incremental annual growth that will result from corporate tax reform. Additionally, the letter notes that with permanent full expensing, 40 basis points would be a fair estimate.

The letter further states that other components of tax reform, such as reducing rates for pass through businesses and individuals, will increase growth above this level.

The letter’s signers are: