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Rudy Tax Cuts Hailed For Surge in Jobs
By Lisa L. Colangelo
The Giuliani administration's tax cuts added fuel to a booming city economy and helped create more than 80,000 jobs since 1997, according to a study released yesterday.
The report, titled "What New York Has Gained From Tax Cuts," was prepared by The Manhattan Institute, a fiscally conservative think tank with a long association with Mayor Giuliani.
In a cautionary note to mayoral candidates who have criticized the cuts, the report estimated the city will lose 25,000 jobs if the 12.5% personal income tax surcharge is restored.
"If you know which candidate you are talking about, you can actually see that what they would do is cost the city jobs," Giuliani said yesterday, without naming specific candidates.
"This study can help act as a device for public education, public debate and understanding of the fact that tax cuts are the best way to create more jobs," he said.
©2002 New York Daily News
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