The Latest: Analysis indicates GOP tax measure a mixed bag
A nonpartisan tax analysis group says the proposed House Republican tax cut would leave 28 percent of people facing tax increases by 2027. The Tax Policy Center also says that in 2018, when the measure would first take effect, 12 percent of people would see higher taxes.
The group says that next year, there would be an average tax cut of
People earning less than
In 2027 the average overall reduction would drop to
Democratic congressman
Other
The measure that would slash corporate taxes, reduce what some Americans would pay and eliminate some prized deductions.
The House Republican tax bill would mean 38 million Americans on average likely will face tax increases by 2023.
That's the word from
Barthold's testimony sparked anger from minority
Texas Rep.
Brady called the legislation a means of spurring job growth and boosting the economy.
Last week,
Speaker
Some want to broaden relief to more small businesses, while others are upset at a provision eliminating a tax credit for adoption expenses.
The proposal is the first major rewrite of the tax code in three decades, mixing tax cuts for corporations and businesses with more modest relief for individuals.
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