May 6, 2015
$895 Billion Dodd-Frank Tax Detailed In New AAF Research
The American Action Forum today released new research examining the economic impact of the Dodd-Frank Act. The research, conducted by AAF’s President Douglas Holtz-Eakin, found that Dodd-Frank will reduce economic growth by $895 billion, or $3,346 per working-age person, over 2016-2025. The results of the research are also the focus of a new #Eakinomics video released today.
“While supporters of the Dodd-Frank Act claim that the law only hits Wall Street, the reality is that the law impacts businesses and financial institutions of all stripes. The regulations mandated by the Dodd-Frank Act makes it harder for businesses to obtain the capital they need to grow, invest, and hire. In short, the Dodd-Frank Tax results in reduced economic growth of $895 billion over the next ten years,” said Holtz-Eakin.
Click here to view the research.