The Tax Policy Center, in analyzing the Republican framework for tax reform released in September, determined that 80% of its benefits would go toward to the ultra-wealthy .
The TPC’s William Gale said Wednesday that the actual House GOP legislation – the Tax Cuts and Jobs Act (TCJA) – would similarly favor the wealthy, perhaps a little less than the original framework.
But the Wall Street Journal’s editorial board says the legislation would come down hard on the rich while favoring less-well-off Americans.
In a breakdown of the legislation, the editorial board praised its proposed corporate reforms but complained about proposed changes to the individual side.
” The Ways and Means draft is instead a much-needed and pro-growth reform of business taxes marred by a mess on individual taxes that makes that part of the code even worse than it is now,” the editorial reads.
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