The White House has provided no federal data to support President Donald Trump’s claims that because of his “no tax on tips” policy, “440,000 tipped workers” in Nevada “saved an average of $10,000 on their taxes,” and “130,000 tipped workers” in Georgia “saved an average of more than $7,000 on their taxes.”
In addition to extending the Tax Cuts and Jobs Act, one of his signature achievements in his first term, President-elect Donald Trump has proposed a long list of tax cuts, from eliminating taxes on Social Security benefits to lowering the corporate tax rate. We’ll look at Trump’s tax proposals, their cost and what impact they could have on taxpayers.
The Internal Revenue Service did not implement a new voluntary program that certain employers could have used to report tips earned by their workers. But the proposal is partly the basis for a Trump campaign TV ad that falsely claims Vice President Kamala Harris “weaponized” and “literally unleashed” the IRS on tipped workers.