Question

How much more will the average American receive in take-home pay because of this tax cut?

Answer 1

Answer:

The tax cuts for individuals in the new law President Donald Trump signed in December are the result of lower individual tax brackets, which raise the amount of income that's taxed at the new lower rates. The standard deduction that's claimed by about 75 percent of taxpayers is also doubled (but the old personal exemptions are eliminated).

Answer 2

Answer:

The average American will receive $40 more in take-home pay because of this tax cut.

Explanation:

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