The following article by Katie Hamm was posted on the Center for American Progress website October 19, 2017:
The White House recently released a tax reform proposal that would repeal the estate tax, among other provisions. Repealing the estate tax would result in $240 billion in tax cutsfor millionaires over the next 10 years. Only those with estates valued at more than $5.5 million for an individual and $11 million for a couple are subject to the estate tax. These estates represent the wealthiest 0.2 percent of Americans. In fact, President Donald Trump’s children could see a $1 billion tax windfall from this provision.
During his campaign, President Trump said that he would make child care more affordable for low-income and middle-class families. He could make good on that promise by prioritizing child care assistance over tax breaks for millionaires. Continue reading “Trump Pushes Massive Tax Cut for Multimillionaires over Child Care for Working Families”
