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House GOP and White House Commit to 10% Middle-Class Tax Cut If They Keep Republican Majority – Sara A. Carter

If the Republicans keep their majority in Congress, the middle-class may see nearly a 10% reduction in their taxes. The Chairman of the House Ways and Means Committee, Kevin Brady, issued a statement addressing the tax cuts which said, “we will continue to work with the White House and Treasury over the coming weeks to develop an additional 10 percent tax cut focused specifically on middle-class families and workers. And we intend to take swift action on this legislation at the start of the 116th Congress.”

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With the crucial mid-term elections less than a week away, the lure of a 10% tax cut is very enticing and may help the Republicans keep their majority. A preliminary estimate for a 10% reduction in taxes aimed at the middle-class would cost the government $2 trillion over a ten year period. According to President Trump, he would like to make the tax cut deficit neutral which would greatly appeal to his conservative base.

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