The GAO’s assessment came as news emerged that the Trump administration is considering bypassing Congress to give a big tax break to wealthy Americans by reducing taxes levied on capital gains. Administration officials said no decision has been made on whether to proceed.
Cutting capital gains taxes was one of only a few items on the wish list of conservatives and Republicans that didn’t make it into the massive tax law hustled through Congress late last year by Republicans, which became President Donald Trump’s signature legislative achievement.
The $1.5 trillion package provides generous tax cuts for corporations and wealthy Americans while offering more modest reductions for most low- and middle-income individuals and families. No Democrats voted for the legislation.
1 thought on “Think You’re Done With Paying Taxes for 2018? Not Yet!”
That’s not our fault, we as poor people, didn’t change the law. Trump the bum did. Take his money not ours. We barely get by, with these paycheck now. I don’t even get foodstamps or subsidize housing or section 8.