Trump’s tax plan to turn policy… hopefully.
May 11, 2017
With the feeding frenzy seemingly ceased consequent to President Donald Trump’s election, most Americans are now learning to deal with, if not accepting, Trump’s presidency.
While many of Trump’s initial actions as President have favored Republican ideals- such as his act to repeal and replace ObamaCare- a new plan has risen that may be favored, by in large, by both majority parties in the country.
Trump’s move to end the federal deduction for state and local taxes is somewhat of a bipartisan break from the steep costs the majority of Americans have paid in taxes for the past decade. One of the most significant changes is that, due to proposed changes in the tax brackets, households in the majority of tax brackets will see a decrease in federal income taxes.
As a daughter of a man who paid his way through college by working at his family-run hamburger joint, I am understanding of those excited to reap the benefits of Trump’s proposed tax break, and I too share that excitement.
Many Americans donate their money to churches and private relief services for those in need. I look forward to the ramifications of this cut in the hopes that privatized organizations, such as Catholic Relief Services, will become a source through which more folks turn to receive help and aid from; thus shifting the focus of our government programs away from entitlements and heavy taxing and towards making helpful policy and becoming more creative in terms of discretionary spending.
In the meantime, however, we will see if this major shift towards business and away from government programs reaps benefits or, as seen historically, another shift back to entitlement programs and more liberal government help.