Center for American Progress

The ‘Big Six’ Tax Plan Would Raise Taxes on Many Seniors and Blind Americans
In the News

The ‘Big Six’ Tax Plan Would Raise Taxes on Many Seniors and Blind Americans

Authors Alex Rowell and Harry Stein explain whom the latest tax plan proposed by President Donald Trump and congressional Republicans would affect.

Authors

  • Alex Rowell
  • Harry Stein

President Trump and congressional Republican leaders, a group known as the “Big Six,” recently released their latest tax plan. The president claims that his plan “will cut taxes for the everyday, hardworking Americans,” but many taxpayers will actually pay more.

Incredibly, the plan costs $2.4 trillion over 10 years, but leaves 47 million households ultimately paying higher taxes so that the wealthiest taxpayers can get huge tax cuts. In fact, a few groups of Americans may be hit especially hard. Based on the details provided so far, many seniors and blind Americans can already tell that this plan will mean higher taxes for them in particular, since the plan eliminates a longstanding deduction they can currently and exclusively claim.

The above excerpt was originally published in InsideSources. Click here to view the full article.

The positions of American Progress, and our policy experts, are independent, and the findings and conclusions presented are those of American Progress alone. A full list of supporters is available here. American Progress would like to acknowledge the many generous supporters who make our work possible.

Authors

Alex Rowell

Policy Analyst

Harry Stein

Director, Fiscal Policy