Majority who claimed new Trump tax breaks earn less than $100,000, Treasury says
The Treasury Department's analysis reveals that most filers claiming new tax breaks earn under $100,000. The tax cuts were part of the One Big Beautiful Bill Act, which aimed to provide relief to lower- and middle-income households. Treasury Secretary Scott Bessent emphasized that the analysis confirms the effectiveness of President Trump's tax policies in benefiting hardworking Americans.
- ▪The majority of filers who claimed the new tax breaks earn less than $100,000.
- ▪Over 7.5 million filers claimed the no-taxes-on-tips benefit, with 90% earning under $100,000.
- ▪97% of filers received a tax cut due to the legislation.
Opening excerpt (first ~120 words) tap to expand
The Treasury Department released a new analysis that found the majority of filers who claimed the new tax breaks enacted by Republicans last year earn less than $100,000. Republicans passed a massive tax cut bill last summer as part of the One Big Beautiful Bill Act. Most of the legislation preserved and made permanent expiring tax provisions, but it also included several tax cuts that President Donald Trump campaigned on, such as tax breaks for tips, overtime income, Social Security, and auto loans.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Washington Examiner.
Discussion
0 commentsMore from Washington Examiner
