Tax Day Prompts Barrage of Opinions on GOP Tax Cuts
This week varying cases on the tax law were made
This week, lawmakers on both sides of the aisle used tax day to make varying cases for or against the GOP tax law enacted in 2017. While multiple polls show a majority of Americans don’t think they got a tax cut at all, President Donald Trump paid visits to several swing states this week to try to turn public opinion and promote the tax law’s effects on the economy.
“We’re getting historic tax relief,” Trump said Monday in Minnesota. “It’s the largest package of tax cuts and reforms in American history.”
The tax law, which was enacted without Democrats’ support, lowered the corporate rate from 35 percent to 21 percent and cut top rates for individuals for eight years. The law doubled the standard deduction and enhanced the child tax credit. While taxes were cut across the board, Democrats have argued that the biggest benefits go to corporations and wealthy Americans.
“For millions of hard-working families, Tax Day is not living up to the Republicans’ promises,” said Speaker Nancy Pelosi (D-CA). “After exploding the deficit by $2 trillion dollars, Republicans continue to push a disastrous special interest agenda that undermines the health and economic security of American families.”
Polls suggest the tax law could continue to be a talking point leading up to the 2020 elections. A recent NBC/Wall Street Journal poll found that just 17 percent of American believe their taxes will go down as a result of the law.
This article was provided to OSAE by the Power of A and ASAE's Inroads.