The Trump administration’s tax proposals would not benefit all taxpayers or states equally, according to new analysis from the Institute on Taxation and Economic Policy.
Matt Gardner, a senior fellow with the institute, says the richest 1 percent of taxpayers would receive more than 60 percent of the tax benefits.
He adds that poorer states, largely in the South and Southeast, would get a portion of the tax cuts lower than their share of the U.S. population.
“Richer states tend to do better, poorer states tend to do worse – in a way that mirrors what’s happening nationwide, with richer Americans getting the lion’s share of the benefits and poorer Americans being comparatively left out in the cold,” Gardner states. Read more
