November 17, 2017

Washington Post: The GOP Tax Plan Is Moving Forward. It’s a Big Scam on Trump’s Base

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While this JCT document doesn’t say exactly how many people will see their taxes rise, other analyses give us a hint. For instance, the Institute on Taxation and Economic Policy estimates that under the Senate plan, 19 million households will see a tax increase in 2019, and more than 23 million will get a tax hike by 2027.

The numbers of people getting a tax hike under the House bill are even higher, because it’s more aggressive about eliminating deductions. But the Senate bill also eliminates the Affordable Care Act’s individual mandate, which Republicans will almost certainly include in the final bill, because they need the savings it creates in order to pay for the corporate rate cut. Read more