An economic plan unveiled by Republican Senate leadership would have a big impact on how much millions of families pay in taxes—for the worse.
The poorest Americans would be hit hardest by the GOP plan, with 80 percent of the bottom 20 percent of earners receiving a tax hike. By contrast, just 0.3% of the richest Americans would see their taxes go up. Taken together with loopholes and write-offs, the wealthy could end up paying less per year.
The impact on working and middle class families would be felt most heavily by lower-income families, meanwhile millionaires and billionaires would be paying less.