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

Donald Trump Donald Trump |  Photo: AP

By STEPHEN OHLEMACHER
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.

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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.

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By STEPHEN OHLEMACHER

Copyright 2017 The Associated Press. All rights reserved.

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