Site icon Brief News

Here’s what Trump’s tax plan means for people at every income level from $20,000 to $269,000 a year

Donald TrumpGeorge Frey / Stringer / Getty Images

• The GOP’s tax plan is far from finalized — Senate and House Republicans must agree on a final version of their plan before it can move forward.

• So far, both plans have attracted plenty of criticism.

• Career site Zippia broke down how the Senate tax plan could affect take-home pay for people in various occupations.


 

Congressional Republicans are touting their new tax plan as a wage-boosting, job-creating boon to the middle class — despite harsh criticisms from the public and experts.

Business Insider’s Lauren Lyons Cole reported that while take-home pay is set to rise under both plans, 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 provided Business Insider with data breaking down how different occupations fare under the Senate’s tax plan. The estimated federal tax savings below are for a single, childless taxpayer who claims the standard deduction.

Here’s a look at how people in a number of different occupations, from fast food cooks to pilots to anesthesiologists, could see their taxes change if the Senate’s tax plan becomes law:

Fast food cooks

Hannelore Foerster / Stringer / Getty Images

Average salary: $ 20,570

Current tax: $ 1,059

Tax under the Senate plan: $ 857

Percent tax cut: 19.1%

Cashiers

Kena Betancur / Stringer / Getty Images

Average salary: $ 21,680

Current tax: $ 1,226

Tax under the Senate plan: $ 971

Percent tax cut: 20.8%

Waiters and waitresses

Shutterstock/Mark Umbrella

Average salary: $ 24,410

Current tax: $ 1,635

Tax under the Senate plan: $ 1,299

Percent tax cut: 20.6%

See the rest of the story at Business Insider

Feedburner

Exit mobile version