A University of Alabama economist is criticizing a study predicting negative economic consequences from Governor Riley's tax plan. Carl Ferguson, director of the Center for Business and Economic Research, says Alabama should benefit from spending more on education and state services. Ferguson spoke out today about a study by Beacon Hill Institute at Suffolk University in Boston.
The study predicted that Alabama will have 24-thousand fewer jobs next year than it would have without the tax hike and that disposable income will go down two-point-three billion dollars. Ferguson says the study is based on faulty job projection figures. But the executive director of the Beacon Hill Institute, David Tuerck, says the numbers came from the Alabama Department of Industrial Relations.