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Who Benefits Most From Extending Trump's Tax Cuts? Likely the Wealthy: Treasury
News January 10, 2025 at 05:56 PM
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What You Need To Know
- Extending the 2017 tax cuts would cost $4.2 trillion, according to the Treasury Department.
- The average household would see a tax cut of 2.2% of after-tax income; the top 0.1% would see a 4.2% cut.
- Republican control in Congress makes passage more likely, but deadlock is possible.
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