Wealthy Would Reap Benefits Of Trump Tax Plan: Think Tank

Law360, Washington (August 15, 2017, 5:15 PM EDT) -- The lion’s share of the benefits from President Donald Trump’s proposed tax overhaul would be concentrated with the wealthiest Americans, and that’s before considering how to pay for it, according to an analysis out Tuesday from a D.C. think tank.

The Urban-Brookings Tax Policy Center estimated that more than 71 percent of U.S. households would get a tax cut under the Trump administration’s one-page proposal floated in April and honed with congressional leaders last month, while 19 percent of households would see a tax burden increase, although every rung of the income distribution ladder would on average see more money after...

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