Mother Jones: Republicans Are Already Giving Up on a Key Part of Trump’s Tax Plan
media mentionFor the third time in eight days, a new study has found that President Donald Trump’s tax plan is a major handout to the richest Americans. On Wednesday, the left-leaning Institute on Taxation and Economic Policy estimated that the top 1 percent of Americans would get 67 percent of the benefits from the Republican tax plan released last week. That comes to $90,000 apiece, compared to an average tax cut of $240 for the bottom 60 percent of Americans.
Matthew Gardner, a senior fellow at ITEP, says that backpedalling on SALT shows that Republicans are not willing to answer the “thorny questions” of how to fund tax reform. “That’s important because the difference between tax reform and tax cuts is whether you answer these hard questions,” he says.