New Tax Plan Won’t Affect Middle Class

(NETWORK INDIANA) The direct impact of the Republican tax reform plan will likely have little direct impact on most middle income individual taxpayers, says Ball State economist Michael Hicks. The bigger impact, says Dr. Hicks, will be in the indirect impact of lower corporate taxes. That’s intended to encourage corporations to bring money invested overseas back to the U.S. economy. That’s believed to be about two to two-and-a-half trillion dollars. If half that amount comes back, it would bump “growth up over the next two or three years.” And for that reason alone, he says the plan is worth supporting.