Republicans are saying that tax reform is coming. But, new analysis of the Trump tax plan shows there could be bad news for many of you.
The non-partisan Tax Policy Center says if you make between 150 and 300K, your taxes could go up by as much as four thousand dollars. This would impact 19 million households. Woodlands Congressman Kevin Brady tells KTRH the analysis is simply flawed.
“This analysis is really done on an old tax plan using assumptions that aren’t correct,” Brady stated.
He says every income level will benefit from tax reform. How would this impact the economy? Joseph Rosenberg, who did the analysis for the Tax Policy Center, says if Brady is right about the plan, the impact would be good.
“If there is an overall tax cut passed that might help the economy in the short run by giving people more income to spend,” Rosenberg stated.
Brady tells KTRH the President is committed to making tax reform happen by the end of this year.