GOP Tax Plan Comes Under Fire

Oct 3, 2017

Senator Rand Paul criticized the Republican tax-reform plan on Monday. The Tax Policy Center (TPC) issued a report saying that “many middle-class taxpayers could see their taxes go up.” Rand Paul tweeted, “This is a GOP tax plan? Possibly 30% of middle class gets a tax hike? I hope the finale details are better than this.” “The TPC’s analysis found that by 2027, almost 30 percent of taxpayers with income between about $50,000 and $150,000 would see their taxes increase. . . .” Republican tax writers took issue with the Tax Policy Center’s interpretation. “The TPC makes a variety of overreaching and unrealistic assumptions about policy decisions Members of Congress still have to make as we draft pro-growth tax legislation,” said Representative Kevin Brady. Currently the plan would create three tax brackets of 12, 25, and 35 percent. The standard deduction would double and the child tax credit would be expanded. Itemized deductions would be eliminated.