How The GOP Tax Plan May Affect Taxpayers
The Trump Administration and Congressional leaders are working on a plan to re-work the country’s tax code. They unveiled a framework last week — among other things, it would reduce the number of individual tax brackets from seven to three and eliminate a number of deductions.
To help walk us through the plan, I spoke with Adam Chodorow. He’s a law professor in ASU’s Sandra Day O’Connor College of Law, and specializes in tax law. He points out the proposal is short on details, which is, of course, where the proverbial devil always seems to reside.
We started by talking about deductions, and I asked him depending on what Congress ultimately does with them, what some of the effects might be on taxpayers.