Analysis finds House bill tax changes larger for the wealthy
Almost half of net federal tax cuts under the committee-passed House tax bill would go to the top 1 percent of earners by 2027, although all income groups would see an average tax decrease under the bill, according to an analysis by the Tax Policy Center. The House plans to vote on the bill this week.
Be smart: You're going to hear different narratives over and over again this week. Democrats are going to say this bill is a giveaway to the wealthy, Republicans are going to say everyone is better off under the plan, and conservative wonks are going to (quietly) argue that cutting taxes on the wealthy and businesses is the way to boost the economy, benefiting everyone.