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Few americans see savings over Trump’s tax law: Poll

Credit: Reuters Studio
Published 1 week ago - Duration: 01:12s

Few americans see savings over Trump’s tax law: Poll

Only one in five U.S. taxpayers expect to pay less income tax this year as a result of the tax reform law passed in 2017 by Republicans who promised big savings for everyday Americans, according to a Reuters/Ipsos opinion poll released on Friday.

Yahaira Jacquez reports.

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Few americans see savings over Trump’s tax law: Poll

(SOUNDBITE) (English) U.S. PRESIDENT DONALD TRUMP, SAYING: "Now because of the tax cuts you can keep more of your hard-earned money." For many Americans, that's not what they're expecting as they file their first returns since the trump tax act brought about sweeping changes to the tax code.

A Reuters/ipsos poll released friday found that only one in five U.S. taxpayers expect to pay less income tax this year as a result of the tax reform law passed by Republicans in 2017.

And nearly 30 percent said they would be actually be paying the IRS more this year than before.

(SOUNDBITE) (English) U.S. PRESIDENT DONALD TRUMP, SAYING: "Your taxes are going way down." The 2017 tax overhaul did lower rates for most people but it also capped certain deductions, like those state and local taxes people are used to writing off.

Now, since only a minority of americans expect to see savings from the tax overhaul, it may not be as strong a 2020 campaign talking point as Republicans and U.S. President Donald Trump had hoped.

But like most political questions in a polarized nation, responses differed along party lines: Republicans were more likey to say they expect to see an economic boost from the tax cuts.

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