Dec 10, 2017

How the GOP tax plan's focus shifted from the middle class

Republican leaders

Republican leaders Sen. McConnell and Sen. Hatch with Treasury Secretary Mnuchin.

"GOP plan evolved into a windfall for the wealthy," the WashPost's Damian Paletta writes in the paper's lead story:

  • Key stat: "[T]he plan would cut taxes for businesses by $1 trillion, would cut an additional $100 billion in changes to the estate tax for the wealthy, and spreads the remaining $300 billion over 10 years among all households at every income level."
  • Why it matters: "[I]t amounts to a massive corporate tax cut, with uneven — and temporary — benefits for the middle class that could end up increasing taxes for many working families in future years."
  • Tick-tock on how it happened.
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