Today House Republicans unveiled their long anticipated tax bill, dubbed the “Tax Cuts and Jobs Act,” that would reduce the number of individual tax brackets from seven to four, slash rates for businesses and eliminate a number of tax breaks. Republicans maintain that the average family of four making $59,000 a year would get a $1,182 tax cut under the 429-page plan.
The legislation, which is loaded with he bill is loaded with contentious ideas affecting broad swathes of the economy, proposes:...