Florida Policy Institute: The Growing Divide: Federal Tax Plan Would Give Massive Tax Cuts to Wealthy Floridians as the Poorest Americans Continue to Struggle
ITEP Work in ActionThe federal tax plan broadly outlined by the current administration would do very little to create opportunities for Floridians struggling to make ends meet. Instead, the tax plan would provide massive tax cuts for Florida’s highest income earners, accordingly to a recent report by the Institute on Taxation and Economic Policy (ITEP). Broadly outlined, the plan is likely to make an already unfair tax system that favors the wealthy even worse. Specific changes in the tax proposal are also likely to undermine state support for core services, which provide a pathway to self-sufficiency and economic independence for millions of moderate- and low-income Floridians.