Politics
Politics
Out of context: Reply #28359
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- dorf1
In selling their soon-to-be-released tax plan, Republicans have been leaning hard on what they say is a provision to cut and simplify taxes for the middle class: doubling the standard deduction that people who pay income tax may take.
"You have to look at the plan in its entirety. It doubles the standard deduction, so in the end, even the lowest rates get a tax cut," Rep. Jim Renacci, a Republican who sits on the tax-writing Ways and Means Committee, told Reuters.
But a document published by Jonathan Swan of the news website Axios shows this is badly misleading — the plan would increase the standardized deductions available to taxpayers by 15% or less.