Nearly four months after the GOP passed their signature tax-cut law in
December, new surveys show that most people believe they are NOT getting
bigger paychecks than they did before. This could greatly reduce support
seen for Republicans during this year’s midterm elections.

The GOP has made the tax-cut law the center of the message it plans to take
to voters this fall in the 2018 midterm elections. Their argument is that
with Republicans in control of Congress and the White House the American
people are getting more money in their take-home pay, thanks to the tax
bill.

According to The Hill, one reason that most taxpayers won’t see much of a
tax cut in their take-home pay is that benefits get spread out over an
entire year. The Urban-Brookings Tax Policy Center said that people with
incomes between $48,600 and $86,100 will, on average, receive $35 per pay
period if divided equally among 26 pay periods. But they also said that
people with incomes below $25,000 will, on average, get a tax cut of only
$60 over the course of the whole year.

“The tax bill just doesn’t provide much benefit to most people,� said
Vanessa Williamson, a fellow at the Brookings Institution.

A recent CNBC poll found that most people aren’t noticing much of a benefit
from the tax law. The CNBC poll said that just 32 percent of working adults
reported having more take-home pay due to the new law.



--
Posted with my iPhone 8+.