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GOP tax plan estimate: Steep revenue drop, richest get biggest cuts

Steve Mnuchin (L) and Gary Cohn (R) are Trump's point men on tax reform. Photo: Evan Vucci / AP

The Tax Policy Center estimates that the GOP tax plan would "reduce federal revenue by $2.4 trillion over ten years and $3.2 trillion over the second decade" and "those with the very highest incomes would receive the biggest tax cuts."

Another key finding: All income groups would see average taxes fall, though some in each group would pay more.