News

Trump Tax Cuts Hurt Bottom 90 Percent

Posted on

A new report from the Urban Institute finds that the Trump administration’s proposed tax plan would disproportionately harm low and middle-income families. The plan includes a combination of tax cuts and financing policies that could be devastating to poor American households, with higher tax burdens for the bottom 90 percent, according to the report. Cutting Taxes and Making Future Americans Pay for It: How Trump’s Tax Cuts Could Hurt Many Households finds that the poorest 20 percent of households would receive just 0.5 percent of raised revenue from the tax cuts while the top 0.1 percent would receive 25 percent of raised revenue. The authors argue that the tax plan is regressive and would leave the vast majority of Americans worse off.

« Back to News