Monday, April 15 is Tax Day 2019.
Most Americans will have a smaller tax bill when they file due to the Tax Cuts and Jobs Act (TCJA), the tax reform law passed by Republicans and supported by President Donald Trump.
But most Americans say they haven’t noticed the cuts and the TCJA remains unpopular.
But despite not being able to sell the tax bill directly, the indirect economic consequences from the tax cuts could still provide Trump and the GOP a boost.
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Monday marks Tax Day 2019, the deadline for most Americans to file their 2018 tax returns.
For most Americans this means a smaller tax bill due to the Tax Cuts and Jobs Act (TCJA), the tax reform law supported by President Donald Trump and passed by Republicans at the end of 2017.
The 2019 filing season is the first time a bulk of Americans will pay taxes under the new system but despite the widespread cuts to their tax burdens, the TCJA has failed to become a political winner for Trump and the GOP.
Despite this inability to sell the tax cut message, there may still be some good news for Republicans.
Most Americans got a tax cut, but many people didn’t notice
According to the Tax Policy Center, a nonpartisan think tank, 65% of Americans will have a smaller tax bill in 2019 due to the TCJA. Every income group will get a cut with the individual tax cuts, resulting in an average cut of $1,260.
But while most people saw a smaller tax burden during the 2019 tax season, the TCJA is still not popular and most people didn’t even notice of the change.
Read more: The GOP tax law was a political flop
Polls taken since the tax law debuted show that most Americans bought Democrats’ description …read more
Source:: Business Insider