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November 14, 2017

Analysis: Senate bill would hike taxes for 14M

  • The nonpartisan congressional analysis finds that the measure would raise taxes in 2019 for 13.8 million households earning less than $200,000 a year.
    Associated Press

    WASHINGTON — Promoted as needed relief for the middle class, the Senate Republican tax overhaul actually would increase taxes for some 13.8 million moderate-income American households, a bipartisan analysis showed Monday.

    The assessment by Congress' nonpartisan Joint Committee on Taxation emerged as the Senate's tax-writing committee started wading through the measure Monday afternoon, working toward the first major revamp of the tax system in some 30 years.

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