Bloomberg: GOP Tax Plan Seen Hurting Middle Class in N.Y., 8 Other States

The ITEP report concludes that many of the most affected people would be middle-income and upper-middle income taxpayers. For example, in Maryland, about one-third of those making from $48,700 to $73,700 would face a tax hike, while 41 percent of those between $73,700 and $126,500, would face an increase, the study says. And almost 65 percent of those with incomes from $126,500 to $254,900, would face a tax bump. The other states hardest-hit are California, Virginia, Utah, Massachusetts, Georgia, and Washington D.C.

Earners at the very top would initially be affected by the repeal of the so-called SALT deduction too, but other tax cuts they’d receive under the framework would make up for its loss, according to ITEP. Because middle-income families have fewer offsets, they’d be hurt more by SALT’s repeal, ITEP said. President Donald Trump and GOP leaders have said they’re committed to providing middle-class families with a tax cut. Read more

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