Poor Americans don't fare well under Trump's tax cut plan

Donald Trump Donald Trump |  Photo: AP

October 07, 2017 04:23 PM

WASHINGTON (AP) — Low-income households in the United States may not see much from President Donald Trump's proposed tax cut.


While Trump calls it the largest tax cut in the country's history, the return for the poorest Americans would amount to about $60 a year.

The analysis by the Tax Policy Center also finds that the average middle-income family would get about $300.

The center's analysis says most of the Trump tax cuts would go to the wealthiest Americans. Families making about $700,000 a year, the top 1 percent, would get an average tax cut of $129,000.

Do tax cuts put money back into the economy? A senior research associate at the Tax Policy Center, Elaine Maag, says low-income families tend to spend the money they get while high-income families save it.



Copyright 2017 The Associated Press. All rights reserved.


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