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 house republican tax plan


The wealthy get the biggest benefit from House Republican tax plan, analysis finds

Los Angeles Times

Trump opens Asia trip with Japan's Abe against backdrop of tensions with North Korea Just one in three Americans trust Trump to handle North Korean tensions well Japan's Abe treats Trump to a day of personal diplomacy, including golf and trucker hats Brazile says Democratic primaries weren't'rigged' though some see evidence in her new book Trump is silent on Saudi king's purge though he and Salman spoke by phone Japan's Abe treats Trump to a day of personal diplomacy, including golf and trucker hats Brazile says Democratic primaries weren't'rigged' though some see evidence in her new book Trump is silent on Saudi king's purge though he and Salman spoke by phone The greatest benefit from the House Republican tax bill would go to upper-income households, according to an analysis released Monday by the nonpartisan Tax Policy Center. Middle-income taxpayers -- those earning between $48,600 and $86,100 annually -- would receive an average tax cut of $700 next year, or about 1% of their after-tax income, the analysis said. The top 20% of the nation's earners -- those making more than $149,400 a year -- would receive an average tax cut of $4,850, or about 1.4% of after-tax income. Those top earners would also receive 60% of the total tax benefits under the plan. Of that, the top 1% of earners, defined as those making more than $730,000 a year, receive about 22% of the total amount of tax cuts in 2018, the Tax Policy Center said.