Republicans gave tax cuts to two-thirds of households, but many of those people are barely noticing a difference in their bottom lines, according to a new Wall Street Journal/NBC News poll.
Just 17% of respondents said they are paying less in taxes under the new law, while 28% say they’re paying more. The rest either say they don’t know or that their taxes have barely changed.
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Those numbers mirror last year’s poll data, suggesting that the experience of filing the first tax returns under the new law hasn’t made much of a difference in whether people think they’re winning or losing.
Here’s the reality, according to recent data from the congressional Joint Committee on Taxation: For 2019, 48% of households are getting a tax cut greater than $500, compared with what they would have paid under the old tax law. Just 5.5% of households face tax increases greater than $100.
An expanded version of this story appears at WSJ.com.
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