Whatever tax reform legislation Congress passes will likely be signed by President Donald Trump. While supporters of Sen. Bernie Sanders (I-Vt.) may disagree, the tax code today already leans heavily on the country’s wealthy. That includes personal income tax, payroll taxes, corporate income taxes and excise taxes – according to a 2016 analysis by the Congressional Budget Office. The next one-fifth of households saw their federal tax rate drop from 12.8 percent to 8.4 percent. Those keen on cleaning up the tax code will be faced with justifying the elimination of tax breaks for the blind, or the disabled.

Source: Huffington Post April 17, 2017 05:15 UTC