Posts tagged GOP Tax Plan
Republican Tax Plan Cheat Sheet

At long last, the House Republican tax plan (the “Tax Cuts and Jobs Act”) is out and it is a huge and confusing bill. Contrary to promises of simplifying the tax code, it is just as dense and complicated as the current system. Winners and losers will be determined on a case-by-case basis, depending on where you live, whether you itemize deductions and how you earn your money.

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Don’t Spend that $4K Tax Raise Just Yet…

The Senate’s passage (51-49) of the budget blueprint last week paves the way for Republicans plan to tinker with the tax code with just GOP votes, which means that tax negotiations have entered a new phase. Last week, the President’s Council of Economic Advisers argued thatPresident Trump's tax plan, which aims to reduce the top corporate tax rate from 35 percent to 20 percent, would boost the average American family’s income by $4,000 under . Critics, including former treasury secretary Lawrence Summers, questioned the $4K promise.

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