Trump Tax Cuts: Average Workers Disappointed, Wealthy Win

• Trump's promised tax cuts are expected to disappoint average workers, especially those without children, who will see minimal change.
• Wealthy taxpayers, those in high-tax states, and workers with tips or overtime are the primary beneficiaries of the new tax breaks.
• Most taxpayers will likely receive only a modest tax boost, which may not alleviate their affordability concerns.
• Higher average tax refunds mask an uneven distribution, with higher-income earners receiving the largest benefits due to deductions.
• Many taxpayers will receive their tax savings as a lump sum refund next year because the IRS did not update payroll withholding guidance.

Why It Matters: Average workers will see minimal tax cut benefits, unlike the wealthy.