Commentary: New Trump Tax Plan Has Specific Costly Tax Cuts at the Top, Fuzzy Promises for Everyone Else
End Notes
[1] Dylan Matthews, “Donald Trump’s Tax Plan, in Fewer than 500 Words,” Vox, April 26, 2017, http://www.vox.com/2017/4/26/15438404/trump-tax-plan-april-mnuchin-cohn-changes.
[2] Committee for a Responsible Federal Budget, “Fiscal FactCheck: How Much Will Trump's Tax Plan Cost?” April 26, 2017, http://www.crfb.org/blogs/fiscal-factcheck-how-much-will-trumps-tax-plan-cost.
[3] Office of the Press Secretary, “Briefing by Secretary of the Treasury Steven Mnuchin and Director of the National Economic Council Gary Cohn,” The White House, April 26, 2017, https://www.whitehouse.gov/the-press-office/2017/04/26/briefing-secretary-treasury-steven-mnuchin-and-director-national.
[4] Center on Budget and Policy Priorities, “Corporate Rate Cuts Are a Poor Way to Help the Economy and Most Workers — and Could Hurt Them,” April 25, 2017, https://www.cbpp.org/research/federal-tax/corporate-rate-cuts-are-a-poor-way-to-help-the-economy-and-most-workers-and.
[5] Chuck Marr et al., “Will New Trump Tax Plan Include Pass-Through Tax Break for the Wealthiest?” Center on Budget and Policy Priorities, February 27, 2017, https://www.cbpp.org/research/federal-tax/will-new-trump-tax-plan-include-pass-through-tax-break-for-wealthiest.
[6] Center on Budget and Policy Priorities, “Repealing Estate Tax Would Provide Windfall to Heirs of Wealthiest Estates, April 20, 2017, https://www.cbpp.org/research/federal-tax/repealing-estate-tax-would-provide-windfall-to-heirs-of-wealthiest-estates.
[7] Chye-Ching Huang, Chuck Marr, and Emily Horton, “House GOP Health Plan Eliminates Two Medicare Taxes, Giving Very Large Tax Cuts to the Wealthy,” Center on Budget and Policy Priorities, updated March 20, 2017, https://www.cbpp.org/research/federal-tax/house-gop-health-plan-eliminates-two-medicare-taxes-giving-very-large-tax-cuts.
[8] Tax Policy Center table T16-0310.
[9] Tax Policy Center table T14-0110.
[10] Office of the Press Secretary.
[11] Center on Budget and Policy Priorities, “Tax Cuts for the Rich Aren’t an Economic Panacea – and Could Hurt Growth,” April 13, 2017, https://www.cbpp.org/research/federal-tax/tax-cuts-for-the-rich-arent-an-economic-panacea-and-could-hurt-growth.
[12] Marr et al.
[13] Office of the Press Secretary.
[14] Chye-Ching Huang, Chuck Marr, and Joel Friedman, “The Fiscal and Economic Risks of Territorial Taxation,” Center on Budget and Policy Priorities, January 31, 2013, https://www.cbpp.org/research/the-fiscal-and-economic-risks-of-territorial-taxation.
[15] Lily L. Batchelder, “Families Facing Tax Increases Under Trump's Tax Plan,” Tax Policy Center Research Report, October 28, 2016, https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2842802.
[16] Lily L. Batchelder et al., “Who Benefits from President Trump’s Child Care Proposals?” Tax Policy Center, February 27, 2017, http://www.taxpolicycenter.org/publications/who-benefits-president-trumps-child-care-proposals.
[17] This analysis only includes workers with earnings whose incomes fall in the “zero” tax bracket — that is, they don’t have incomes high enough to owe any federal income taxes before factoring in tax credits. CBPP estimate based on 2016 Current Population Survey data.
[18] Center on Budget and Policy Priorities, “Tax Reform Should Raise Revenues – And Certainly Should Not Lose Them,” April 26, 2017, https://www.cbpp.org/research/federal-tax/tax-reform-should-raise-revenues-and-certainly-should-not-lose-them.