Tax policy expert Alexandra Thornton told The Hill Monday that most individuals making less than $200,000 a year got a small tax cut. Those making $40,000 to $50,000 averaged about $670 in savings, for instance. Those making more than $1 million a year, however, saved an average of $88,000 in taxes.
In a Hill-HarrisX poll released Monday, though, only 18% of respondents said they paid less in federal taxes for 2018 compared to 2017, while 36% said they paid about the same and 32% said they paid more. A Gallup poll released Friday had similar results.
“The reality is for most people, the tax bill doesn’t make much of a difference. Some people will have seen quite a small tax cut but it will have been folded into their pay checks so it’s no surprise that people aren’t completely clear on what happened,” Vanessa Williamson, a senior fellow at the Tax Policy Center, told “What America’s Thinking” host Jamal Simmons.