Poll: Only 16% of Americans Believe GOP Tax Plan Will Reduce Their Taxes
A majority of American voters disapprove of the Republican tax plan, according to a Quinnipiac University poll released this week.
52 percent of respondents disapprove of the GOP proposals to overhaul the tax system, while only 25 percent approve.
61 percent of voters said the plan would mainly help the wealthy. 24 percent responded that it would primarily benefit the middle class, and only six percent said the same about low-income people.
Only 16 percent of American voters said the Republican tax plan will reduce their taxes, while 35 percent of voters said it will increase their taxes and 36 percent say it won't have much impact on their taxes.
Only 36 percent of voters believe the GOP tax plan will lead to an increase in jobs and economic growth, while 52 percent do not.
The Senate Finance Committee voted late Thursday in favor of the House GOP tax bill, which means the bill will likely reach the Senate floor sometime after Thanksgiving.
Treasury secretary Steve Mnuchin said on "America's Newsroom" that virtually everyone in the middle class will get a "significant tax cut."
As for one of the most controversial parts of the plan, the elimination of state and local tax (SALT) deductions, Mnuchin acknowledged that some people in higher-tax states like New York will be paying more in taxes.
He said that lowering the corporate tax rate from 35 to 20 percent will create jobs and bring trillions of dollars into the U.S. economy.
"This is all about making American businesses competitive," Mnuchin said. "If we can have our businesses compete on a level playing field, they can outperform everyone in the world."
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