Repeal 2017 Tax Cuts

Copyright

2021

Published Date

04/16/2021

Published By

Well Being In the Nation Network

Tax cuts in 2017 reduced taxes for high-income earners; top corporate taxes dropped from 35% to 21%. These corporate tax cuts benefit wealthy shareholders and high-paid executives. Individual income taxes for the highest income earners were also cut. The law decreased the individual income tax rate for certain business types. The tax cuts also doubled the estate tax exemption, which allowed affluent households to pass on more wealth tax-free.