The GOP offsets some of those costs by raising taxes on individual earners who use tax breaks such as the mortgage interest deduction and the state and local tax deduction. But critics say the GOP could have chosen to overhaul the tax code in a way that concentrated benefits on middle- and working-class Americans — and chose not to.
"You can very much achieve tax reform without giving higher-income earners a tax cut," said Chye-Ching Huang, deputy director of federal tax policy Center on Budget and Policy Priorities.
President Trump and top Republican leaders argue that the middle class and working poor will benefit from lower taxes of big businesses because corporations will use the money they save on taxes to hire more workers and pay existing employees higher wages.
"We will be creating jobs like you have rarely seen," Trump said in the Oval Office, as he kissed a postcard of the House GOP tax plan, hailing it as a "great Christmas present."
"You can very much achieve tax reform without giving higher-income earners a tax cut," said Chye-Ching Huang, deputy director of federal tax policy Center on Budget and Policy Priorities.
President Trump and top Republican leaders argue that the middle class and working poor will benefit from lower taxes of big businesses because corporations will use the money they save on taxes to hire more workers and pay existing employees higher wages.
"We will be creating jobs like you have rarely seen," Trump said in the Oval Office, as he kissed a postcard of the House GOP tax plan, hailing it as a "great Christmas present."
