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VOL. 41 | NO. 44 | Friday, November 03, 2017
Analysis sees tax hikes for 38M under GOP bill
WASHINGTON (AP) — The House Republican tax bill would mean 38 million Americans on average likely will face tax increases by 2023.
That's the word from Thomas Barthold, the chief of staff for the Joint Committee on Taxation. He gave the data in response to a question from a Democratic member of the House Ways and Means Committee at Monday's session. The panel is working on the legislation that would cut taxes for corporations and many average Americans but also eliminate deductions prized by homeowners and people with heavy medical expenses.
Republicans countered that in the near term, Americans would see tax cuts under the legislation.
Barthold's testimony sparked anger from minority Democrats on the panel. Rep. Mike Thompson of California demanded to know why residents of his district who lost their homes in the recent wildfires would also have limits on their ability to claim local property taxes on their federal returns.