U.S. middle-market companies will lose more than $1 trillion—that’s trillion with a “t”—in equity value if the Corporate Interest Tax deduction is eliminated, according to a study released at ACG’s 2016 InterGrowth Conference in New Orleans.

ACG, an industry group of 14,500 professionals that advocates for middle-market company growth, collaborated with RGL Forensics of Dallas on the study, which quantified the cost of cutting the CIT deduction based on likely changes that would follow in the cost of capital and future growth rates.

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