From an economic perspective, the Tax Foundation estimates that the tax reform will increase the United States' real GDP by more than 9%, real wages by 8%, and create at least 2 million new permanent full-time jobs. However, a report from the American think tank TPC shows that the long-term impact on U.S. economic growth is minimal and may even trigger higher inflation. The Tax Policy Center estimates that the tax reform will reduce federal revenue in the U.S. by $2.4 to $2.5 trillion from 2017 to 2027, and by $3.4 trillion from 2027 to 2037. From an international perspective, U.S. tax reform may trigger a global tax cut competition, impacting the tax policies and economic development of other countries.