U.S.

GOP won’t promise middle class help or Trump info for tax reform

Basic facts are still taking a toll on President Trump’s tax plan.

GOP leaders on Sunday refused to promise that Trump will release any tax records to back up claims that his proposed tax reform will help the middle class and not himself.

But they also wouldn’t promise that the proposal will help the middle class.

“I think the American public will be comfortable with the information that they have,” Treasury Secretary Steven Mnuchin told ABC News’ “This Week” in an interview where he dodged hard questions about the plan’s impacts.

How Donald Trump’s tax plan helps Donald Trump

Mnuchin gave no indication that Trump, the first President in four decades to withhold his tax returns, would release them for transparency while pushing the biggest tax reform since the 1980s.

“I can’t comment on what the President will do or what he won’t do on that,” Mnuchin said.

Treasury Secretary Steven Mnuchin.

Treasury Secretary Steven Mnuchin.

(CARLOS BARRIA/REUTERS)

The treasury secretary also wouldn’t say what Trump would do if a final bill that kicks up middle class taxes arrives at his desk.

Likewise, House Speaker Paul Ryan couldn’t ensure that all middle class families would see any benefit.

Trump’s tax plan favors the super-rich most, analysis shows

“I don’t know every single person’s little, small problem or issue,” Ryan told CBS News’ “Face The Nation.”

“The entire purpose of this is to lower middle class taxes, so yes, people are going to get tax cuts. How big are those tax cuts? That depends on the individual.”

Trump and his administration have pushed the massive tax overhaul as a plan aimed at helping the middle class and corporations. Trump, a real estate mogul who still owns his namesake company, has insisted the tax cuts won’t benefit billionaires like himself.

U.S. President Donald Trump scratches his head during a press conference with Spanish Prime Minister Mariano Rajoy in the Rose Garden at the White House in Washington, U.S., September 26, 2017. REUTERS/Joshua Roberts

Donald Trump in the White House

But even with some essential details about the plan still unknown, its basic structure gives every indication that the 1% will be the biggest winners.

Trump adviser Gary Cohn says tax plan might not help middle class

The plan calls for the highest income tax bracket to be lowered from 39.6% to 36%. The lowest income bracket, meanwhile, would increase from 10% to 12%.

The proposal would eliminate the estate tax and alternative minimum tax — both of which are only intended for wealthy Americans — while also erasing state and local tax deductions on federal tax returns, which help middle class taxpayers.

Corporations would see the biggest boost of all, with the corporate tax rate falling from 35% to 20% under Trump’s plan.

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donald trump
trump tax plan
taxes and spending

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