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This tool calculates how the Trump tax plan will impact you

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Alex Thomas Salder

Taxes were a hot topic during election season. And rightfully so, since tax policies can have a significant impact on the bank accounts of everyday Americans.

So if you’re wondering how President Elect Trump’s policies may impact you and your life, there’s a tool that may be able to help!

How would the Trump tax plan affect your taxes?

According to the Tax Policy Center, Trump’s plan would cut taxes by $6.2 trillion over a decade — reducing taxes for taxpayers in all income groups.

To give you a more personalized view of Trump’s tax plans, the Tax Foundation created a tool that calculates how much money you may expect to lose or gain under Trump’s tax proposals.

Note from the Tax Foundation: The tax code is quite complicated and this calculator does not capture every element of the current code or the code under each proposal, but it still captures the elements of the tax code that most taxpayers deal with.

Click here to see our full analysis of Donald Trump’s tax plan.

 

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