whocares1970

From what I can see now, it will increase taxes for many in the middle class, especially for families with children. The increased standard deduction will not do that much, given that many are already filing itemized deductions. And repealing the personal exemptions will have a huge negative effect. Plus - they are removing student loan interest deduction and some other things. Overall, it looks like taxes will go down for those with higher income, some money will be given to those with lower income (for instance, via the increased refundable child credit), and the middle class will get the short end of the proverbial stick, we will be lucky to break even.

The Republicans in Congress will either have to adjust all that before they pass the bill, or be punished by the voters next November. I just do not understand why are they doing it this way.