Poll: Few Americans see savings from Trump's tax reform
The poll suggested that the tax overhaul, mostly geared to helping businesses, may not be as strong a 2020 campaign talking point as Republicans and President Donald Trump had hoped. The U.S. Treasury Department insisted that most Americans were paying lower taxes under the new law.
But it also capped certain deductions, such as for state and local taxes, that can be claimed by taxpayers who opt to itemize instead of taking the standard deduction. Historically, a majority of U.S. taxpayers have claimed the standard deduction on their federal tax bills. According to the poll, about 33 percent of Republicans said they would pay less tax; 17 percent said they would pay more.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Few Americans see savings from Trump's tax reform: Reuters/Ipsos pollOnly one in five U.S. taxpayers expect to see savings this year as a result of Trump's tax overhaul via ReutersTV
Read more »
Trump's budget could open this tax-free savings account to people on MedicareIf you're on Medicare, you can't put money away in a health savings account — the triple-tax advantaged account for medical costs. Trump's 2020 budget is trying to change that. What you should know.
Read more »
This chart shows how much money Americans have in savings at every ageThis chart shows how much money Americans have in savings at every age via CNBCMakeIt
Read more »
A fifth of Americans say they have zero savingsAbout 21% of Americans have no money tucked away for unexpected costs, according to a new survey.
Read more »
Fed to raise interest rates once more in third quarter, then done: Reuters pollThe U.S. Federal Reserve will remain patient for a little longer than thought ju...
Read more »
EU ditches digital tax plan, to work for global reformEuropean Union governments on Tuesday scrapped a plan to introduce an EU-wide di...
Read more »
U.S. sees unilateral taxes on web giants as 'discriminatory': Treasury officialThe United States thinks a French plan for a tax specifically targeting digital ...
Read more »
UK's Hammond sees more spending, tax cuts if Brexit deal done: FTBritish finance minister Philip Hammond said he would be able to free up billion...
Read more »
Three-quarters of Republicans say white Americans face discrimination in the U.S., poll findsAround 75 percent of Republican voters said white Americans are subjected to discrimination, while only 38 percent of Democrats and 55 percent of independents agreed.
Read more »
India to go to polls from April 11; tension with Pakistan seen boosting ModiIndia will hold a general election in seven stages starting on April 11, the ele...
Read more »