Would the Republican tax bill do all those things? “Not quite” is a running theme when it comes to the proposed tax legislation, and nothing illustrates that as well as the example of the standard deduction. Republicans have big plans for the standard deduction and have made it a centerpiece of their tax talking points. Because the Republican plan offers lower marginal tax rates, but in some cases subjects higher amounts of income to taxation, experts have consistently found it would deliver a tax cut for most, but not quite all, households. Most economists agree that tax cuts in the Republican bill would boost growth.

Source: Huffington Post November 24, 2017 13:41 UTC