Will The Tax Plan Put More Money In My Pocket?
The GOP tax plan is inching closer to final passage, with lawmakers preparing to hammer out the differences between the House and Senate versions of the bill. And there are some significant differences on everything from personal tax brackets to deductions for mortgages and children to the requirement for individuals to have health insurance.
There’s also the question of whether, if the economy is doing as well as the president’s tweets indicate, this is the right time to change the tax code.
And, what do Americans actually want from our tax system? A Pew study from April 2017 found that Americans tend to not think it’s not very fair.
In September, Pew also reported that while a quarter of Americans favor a lower rate on corporations and wealthy households, a greater share of the country wants those rates to go up.
As the legislation moves forward, we ask … what does this mean for you, what will you get and what will you lose?
Rep. Jim Renacci, Congressman (R-Ohio) representing Ohio’s 16th congressional district; he serves on the House Ways and Means Committee
Chye-Ching Huang, Deputy director of Federal Tax Policy, the Center on Budget and Policy Priorties
Laura Davison, Congressional reporter with Bloomberg Tax
Alex Brill, Resident fellow specializing in fiscal and tax policy, American Enterprise Institute
For more, visit https://the1a.org.
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