Special Trump tax provision gives $17 billion break to millionaires, gov’t report finds
The beneficiaries are those who claim the new “pass through” deduction of up to 20 percent in the congressional tax plan.
Congress’ nonpartisan tax scorekeeper, the Joint Committee on Taxation (JCT), issued new data last week that shows 44 percent of the new 20 percent passthrough deduction benefits individuals making one million dollars or more. By 2024, millionaires will be receiving over half of that tax relief.
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