Analysis finds wealthy benefits under House GOP tax bill
The Tax Policy Center on Monday found that in 2018, when the legislation pushed by President
People earning less than
In 2027, people making below
The report came as the tax-writing
"Clearly this is helping real people. It's helping teachers, it's helping students, it's helping struggling families that are living paycheck to paycheck," said GOP Rep.
"There are a lot of people expecting a tax cut who would be big losers under this bill," proclaimed Democratic Rep.
At stake is whether the
The legislation adds
Despite the various analyses,
"It's about making America's economy stronger than ever by delivering more jobs, fairer taxes and bigger paychecks across the nation," said
Brady is aiming to push the legislation through committee and to the full House later this week, and
The committee's top Democrat,
The tax proposal is the first major rewrite of the
But there's considerable trepidation as well. In addition to the overall increases in later years for lower-income Americans, many earners in the upper-middle class, especially those from high-tax states, are facing tax increases. That's because the measure would no longer permit taxpayers to deduct state income taxes from their federal taxes.
Powerful lobbyists are fighting to protect favored deductions, while a few well-financed interest groups, including the
The Latest: Proposed changes in tax overhaul bill anger Dems
Griffin-American Healthcare REIT IV Acquires Nine-Property Central Florida Senior Housing Portfolio for Approximately $110 Million
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News