4-Staters Discuss New GOP Tax Plan - KOAM TV 7

4-Staters Discuss New GOP Tax Plan


Simplification is a major theme of the GOP's latest proposed tax plan. That's something with which Joplin tax specialist David Cheek agrees.

"I think we're definitely in need of simplification of the tax code. It's kind of gotten out of hand and become a monster in a lot of ways," said Cheek.

The plan would have only three tax brackets. And while it proposes to raise the lowest bracket, Cheek says the poorest people wouldn't have to worry about the tax bracket at all because the standard deduction would be doubled.

"Those people that are in the lower, poor, lower middle class are not going to have to worry about the tax bracket if they're not, as a married couple making more than $24,000 or $12,000 as a single person."

Some 4-Staters KOAM/Fox 14 spoke with weren't fully on board with the plan, including the part that significantly lowers corporate tax rates.

"As a citizen from Arkansas, with the Walmart Corporation being so big, why should they get a tax cut and my taxes are being raised, when I'm just trying to pay my bills and feed my dog?" said one Arkansas woman.

"I think that raising that amount of taxes that come from the poorest people's paychecks is not a good idea. I think the idea that will end up with more money in our pockets is kind of shady. I don't think it's true," stated another woman KOAM/Fox 14 spoke to in Joplin.

There's still a lot of work to be done on this plan however, before it's even brought up for a vote.

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