WASHINGTON (AP) — One group of Americans will likely see huge changes to their tax bills after this year's presidential election: the wealthiest 1 percent.
"In almost every meaningful respect these plans are mirror images," said Len Burman, a former Treasury official under President Bill Clinton who is director of the Tax Policy Center, a joint project between two nonpartisan Washington think tanks.
Would cut the top income tax bracket to 33 percent from its current level of 39.6 percent and would cap tax deductions at $200,000 per household.