Final Trump-GOP Tax Plan Contains Major Tax Cuts for the Wealthy, Leaves Many in WV Out

The final tax bill that Republicans in Congress are poised to approve would provide most of its benefits to high-income households while raising taxes on many low- and middle-income West Virginians. While the bill goes into effect in 2018, many of the provisions directly affecting low- and middle-income individuals and families would all expire after 2025, with the exception of one provision that would raise their taxes. Overall, the tax cuts in the bill are tilted dramatically in favor of the richest West Virginia residents. 

According to the Institute on Taxation and Economic Policy, in 2019, the bottom 60 percent of West Virginians will receive a smaller average tax cut, as a share of their income, than wealthier West Virginians. In 2027, the bottom 60 percent will see tax hikes, on average, while the wealthiest in the state continue to receive tax cuts.

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Focusing on 2019, when on average all West Virginians receive a tax cut, before the provisions benefiting low- and middle-income families expire, nearly half of the benefits of the tax cut would go to the wealthiest percent of West Virginians, while nearly a quarter would go to the wealthiest one percent. The richest one percent of West Virginians would receive an average tax cut of over $28,000, while the average impact for middle class West Virginians will be only $430.

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By 2027, the tax plan would raise taxes on 23 percent of West Virginia taxpayers, with the increases concentrated on the middle class. As a result, in 2027 the plan would, on average, raise taxes on the bottom 60 percent in West Virginia, while keeping tax cuts for wealthier taxpayers.

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  • commented 2017-12-23 14:10:18 -0500
    Is this democracy ? How is it possible for a Country that is suppose to be …well? democratic , to have .001% of it’s people passing tax laws that make life much more difficult for average citizens and benefit a “very” few?

    Email me at"montem@frontier.com" to express your reason for accepting this as a reasonable response for our leaders to make during a declining economic trend that experts claim may last for 20 years!

    Isn’t this the 1%’s plan to throw the 99% under the bus!

    How many more homeless will this theft of life giving resources for a “no possible job” society , create?

    How is America better off with more homeless ?

    How are we better off as children go hungry ?

    How are we better off with more of our neighbors not having basic healthcare?

    When will the next pandemic occur ? and what will we do without basic medical defense for those most likely to be affected ?

© 2018 West Virginia Center on Budget and Policy