Center for American Progress

The Tax Cuts Hidden in Congress’ Tax Reform, Explained
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The Tax Cuts Hidden in Congress’ Tax Reform, Explained

Author Alexandra Thornton discusses who will benefit from the tax cuts in Congress' tax reform plan.

In a joint statement on July 27, top Republican policymakers in the House and Senate, along with President Donald Trump’s top two officials responsible for tax policy, re-upped their commitment to passing “comprehensive tax reform.” With the help of business groups and conservative organizations backed by the Koch brothers, they plan to ramp up their campaign for tax reform over the Labor Day weekend.

The language that Republicans are using to push these proposals—“make taxes simpler, fairer, and lower” for American families—sounds appealing. But the policies on their wish list are almost entirely tax cuts, and almost all of the benefits (99.6 percent under House Speaker Paul Ryan’s plan) will go to the top 1 percent of taxpayers.

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

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Authors

Alexandra Thornton

Senior Director, Tax Policy