Cut in Social Security Would Negatively Impact Wyoming's Economy

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Cut in Social Security Would Negatively Impact Wyoming's Economy

A new report released this week by the Main Street Alliance and Social Security Works shows that a 3 percent cut in Social Security could take as much as $35.8 million out of Wyoming's economy. A similar cut to Medicare could cost the state's economy almost $20 million.

Communications Associate Lacy Crawford with Social Security Works says that the state's rural communities and small businesses would take the biggest hit.

Crawford says that Congress should focus on closing offshore tax loopholes that allow the wealthy and large corporations to avoid paying taxes by sheltering their income in offshore tax havens.

To view a copy of the Business is (Baby) Booming report, click here.

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