New York Times: Did a Tax Increase Tucked Into Trump’s Tax Cut Come Back to Bite Republicans?

Simply reinstating the unlimited cap, without also reversing the changes to the alternative minimum tax, would deliver no benefit to low-income and middle-class Americans, according to a new analysis by the Institute on Taxation and Economic Policy, a liberal think tank. More than 85 percent of the benefits would go to the top 5 percent of American income earners. The top 1 percent of income earners would see an average tax cut of $35,000 each.

That math may be difficult to sell to a Democratic base that spent the past year calling the Trump tax cuts a giveaway to the rich. Read more