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In 1 Chart, What's in the Final Tax Reform Bill

12/23/2017

1 Comment

 
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The Tax Cuts and Jobs Act is the most sweeping update to the U.S. tax code in more than 30 years. The recently released conference report would lower taxes on business and individuals, and unleash higher wages, more jobs, and untold opportunity through a larger and more dynamic economy.

The conference report is a serious effort to reform a complex and badly broken system that provides significant tax relief to the vast majority of taxpaying Americans.

Click here for a look at the chart with the comparison to current tax law and the changes coming in 2018.

Nothing is perfect with all the thousands of pages of IRS tax code, however, the big changes the new tax reform law enacts will make a difference for a majority of tax payers.  Personally, I think a common sense outcome will be a growing economy in many sectors resulting in more jobs and perhaps growing wages.

I just hope average Americans embrace a new attitude toward debt.  It is not going to matter if the economy gets better if millions of Americans continue to sink themselves in unnecessary debt.  Tax relief certainly has the potential to help Americans pay down debt and get in better personal financial shape.





1 Comment
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3/2/2018 08:29:55 pm

This is a matter how Americans manage their financial life style. I believe that the law was done in good fate, so all the adjustments should be done by the people. Perhaps it's about time for the Americans to be more responsible in terms oh handling their money and cards really well. I am sure there will be numerous changes that will be made, but I can see that it's the people who will benefit from this law in the long run!

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