Nov 30, 2017

New analysis suggests a majority of households would get a tax cut

J. Scott Applewhite / AP

A Joint Committee on Taxation analysis shows that the Senate GOP tax plan would give 60% of households a tax cut of $100 or more, which would decrease over time to about 16%, The Hill reports. 49% of households would see tax changes of less than $100 or a tax increase, the report from the nonpartisan Congressional committee says.

Why it matters: It's difficult to peg down what impact the tax bill may have on tax cuts or increases for Americans since Republicans are still negotiating parts of the plan, including what mechanism would act as a trigger if economic growth isn't robust enough to account for tax cuts, state and local tax deductions, and how it handles small businesses' taxes.

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