Republican Tax Cut Would Benefit Wealthy And Businesses Maximum, Report Unearths

“Tax collections would shift dramatically from businesses to individuals,” said Eric Toder, co-director of the Tax Policy Center.
Thus far the proposal would slash the corporate tax rate to 20 percent from 35 percent, and create a new 25 percent tax rate for “pass through” businesses such as partnerships, sole proprietorships and family farms.
“It’s hard to see if you continue to have those provisions in a tax proposal that it doesn’t benefit high income individuals and households disproportionately,” said Mark J. Mazur, director of the Tax Policy Center and a former assistant secretary for tax policy at the Treasury Department.
Republicans are counting on a surge of economic growth to pay for their tax plan and the Tax Policy Center analysis does not account for those “dynamic” effects.
They would be hit particularly hard by the repeal of the state and local tax deduction.

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