The Week: The GOP’s Head Fake on Taxes

But this little adjustment would barely shift the overall effects of the tax plan at all. “Taxpayers with total income exceeding $1 million would receive an average tax cut of $138,000 in 2018” under the original GOP framework, the Institute on Taxation and Economic Policy explained in an analysis. “If this modification is made to the framework, the average tax cut for this group would be $128,000.” Read more