3 Ways Your Taxes Might Go Up Under the GOP’s Plan
Republicans in Washington released the framework for their new tax reform plan Wednesday, providing a few specifics on proposals to cut the corporate tax rate, change individual tax brackets, and increase the standard income tax deduction.
To be clear, what was made public is still far from a detailed or complete plan. The nine-page framework is intentionally vague, offering up feel-good statements such as "the committees will work on additional measures to meaningfully reduce the tax burden on the middle class."
And some aspects of the plan as outlined would apparently offer tax breaks to some middle-class families, such as an increase in the child tax credit, and a new credit for taxpayers who take care of non-child dependents.
Source: Fool.com
