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• The GOP has reached an agreement on their enormous tax overhaul.
• Career site Zippia broke down how the final tax bill could affect take-home pay in 2018 for people in various occupations.
• Business Insider looked into how the bill would affect blue collar workers’ wallets.
US President Donald Trump has marketed himself as a champion of working people. And Congressional Republicans are touting their new finalized tax bill as a wage-boosting, job-creating boon to the middle class, as well as a means of simplifying the tax system.
But the tax reform efforts have earned harsh criticisms from the public and experts. The conservative Tax Foundation found Republicans also overpromised on how much the bill would boost the economy, according to Business Insider.
Business Insider’s Lauren Lyons Cole reported that while take-home pay is set to rise under the tax reform plan, most Americans won’t see a ton of extra cash in their pockets. But how much you save also depends on how much you currently earn.
Career site Zippia‘s David Luther provided us with data breaking down how different occupations fare under the finalized tax plan. Business Insider decided to look into how the new plan will affect blue collar workers — people in jobs that center around non-agricultural physical labor — in particular.
The estimated federal tax savings below are for a single, childless taxpayer who owns a house valued at three times their salary. Zippia’s calculations factored in whether a given taxpayer would benefit most from taking the standard deduction or itemizing deductions.
Following is a look at how blue collar workers in a number of occupations, from food preparation workers to power plant operators, could see their taxes change next year if the tax plan becomes law.
Food preparation workers
Daniel Zuchnik / Stringer / Getty Images
Average salary: $ 22,920
Current tax: $ 1,412
Tax under the Republican plan: $ 1,120
Percent tax cut: 20.7%
Restaurant cooks
Flickr/moriza
Average salary: $ 25,430
Current tax: $ 1,788
Tax under the Republican plan: $ 1,421
Percent tax cut: 20.5%
Janitors and cleaners — except maids and housekeeping cleaners
Andrew Burton / Stringer / Getty Images
Average salary: $ 27,030
Current tax: $ 2,028
Tax under the Republican plan: $ 1,613
Percent tax cut: 20.5%
See the rest of the story at Business Insider
