Center for Financial Policy

Three Ways Trump’s Tax Plan Would Affect Families

President Donald Trump’s proposed plan to reform the tax code, as revealed in a one-page outline last week, would benefit middle and lower-income households in three ways, but to varying degrees, says the Smith School's William Longbrake. The proposal would simplify filing requirements and reduce income taxes for many Americans, and lower significantly the tax rate for corporations and companies like his. Overall, says Longbrake, only “a negligible amount" of the estimated $3 trillion to $7 trillion in reduced taxes over the next 10 years would benefit low-income families. Read more...

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Robert H. Smith School of Business
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