Trump: Under New Tax Plan, ‘Typical’ American Household Will Keep $4,000

In a speech to promote his agenda for tax reform yesterday in Pennsylvania, “Trump reiterated during his remarks in Pennsylvania that his goal is to make life easier for the middle class,” according to U.S. News & World Report.  He also said that tax reform would “likely give the typical American household a $4,000 pay raise.”

Several specifics in the plan for tax reform still have yet to be fixed, however: “Trump on Wednesday appeared to change certain aspects of his pitch, creating more uncertainty for analysts. Trump repeatedly said there were currently eight income tax brackets and that the new blueprint would reduce that number to four – appearing to count those whose annual income falls below the standard deduction as their own bracket.

“Less than a month ago, during a tax speech in Indianapolis, he promised individuals would be “subject to just three tax rates” rather than the current seven.”

But reducing the tax burden on the middle class appears to be a major goal for the president, as he recalled “a conversation he had with Patriots owner Robert Kraft a few months ago. Trump said Kraft told him: ‘Give it to the middle class. Don’t give it to us. Give it to the middle class.'”