One of the main priorities of the reconciliation package is to codify Trump’s 2017 tax cuts – which heavily favored wealthy Americans – into permanent law. But the tax package produced by the House Ways and Mean Committee won’t actually reduce taxes for all Americans. In fact, it will raise taxes on the poor. 

According to an analysis by Congress’ Joint Committee on Taxation, Trump’s reconciliation bill will raise taxes on Americans earning under $15,000 in 2027. By 2029 and going forward, the legislation will continue to increase taxes on those individuals, as well Americans earning between $15,000 and $30,000. 

Millionaires, meanwhile, will see tax cuts in each year included in the analysis. In two of four years, according to the JCT analysis, millionaires will see a larger average decrease in their tax rate than Americans will overall.

Trump Lies That His Bill Cuts Taxes For Everyone, When It Raises Them on the Poor

Donald Trump’s reconciliation bill won’t reduce taxes for all Americans, as the president claims. His bill actually raises taxes on the poor.

https://www.rollingstone.com/politics/politics-news/trump-lies-tax-cuts-rich-increase-poor-1235341367