Severity 4 — Severe💰 economy22 December 2017
Trump Tax Cuts Balloon Deficit, Favour the Wealthy
The 2017 Tax Cuts and Jobs Act reduced the corporate tax rate from 35% to 21% and cut taxes for the wealthiest Americans. The Congressional Budget Office estimated it would add $1.9 trillion to the deficit over a decade, with 83% of benefits going to the top 1%.
Source
Center on Budget and Policy Priorities🌍 See this event in context
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