Tags: sean duffy | GOP | tax reform | lower incomes | middle incomes | impact

Duffy: GOP Tax Reform Won't Impact Lower, Middle Incomes

(Fox News' "Fox & Friends")

By    |   Friday, 29 September 2017 03:50 PM

Rep. Sean Duffy, R-Wis., said that part of a Republican plan for tax reform will benefit those with lower and middle-range incomes.

"If we're looking out for lower income, middle income folks, this isn't going to impact them. Higher income folks, it will," Duffy said Friday on "Fox & Friends."

The congressman referred to a federal tax deduction that individuals can claim for state and local taxes. Trump's economic advisers are considering removing that deduction, which would bring in $1.3 trillion in revenue to offset corporate and individual rate cuts, according to Bloomberg.

"You have some members of Congress from New York, from Illinois, and California that don't like this. But let's be clear, when you are a lower income person and your standard deduction goes from $12,000 to $24,000, this doesn't matter for you," Duffy said.

Much of that money will come from high earners in high-tax states such as states on the east and west coasts, Bloomberg reported.

"Now you at this table, you might have to pay a little more, because you're not going to be able to deduct that," Duffy said.

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Rep. Sean Duffy, R-Wis., said that part of a Republican plan for tax reform will benefit those with lower and middle-range incomes.
sean duffy, GOP, tax reform, lower incomes, middle incomes, impact
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2017-50-29
Friday, 29 September 2017 03:50 PM
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