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Texans got bigger boost than average from federal tax cuts

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Texans have benefited more than most other states from federal tax cuts, according to a report by the Federal Reserve Bank of Dallas, with only Florida residents seeing a greater benefit on average.

The average impact as a percentage of income for Texas residents was 2.12 percent, just barely behind Florida with 2.22 percent, which has the No. 1 spot, according to coverage of the report in The Dallas Morning News.

The average benefit across the country was 1.4 percent, and some states, such as California at 0.74 percent, saw significantly less benefit.

“The more-generous tax break in Texas ... likely played an important role in Texas’ 2018 stronger job growth,” wrote Anil Kumar, a senior economist at the Dallas Fed.

Texas added nearly 300,000 jobs in 2018, and Kumar said the tax cut may have boosted that growth by approximately 0.3 percent.

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