PolitiFact: How much will you get under the GOP tax plan?

Posted at 8:44 PM, Dec 08, 2017
and last updated 2017-12-08 21:44:27-05

Who in Wisconsin will be getting a tax cut and how much? 

PolitiFact Wisconsin crunches the numbers and puts them through the Truth-O-Meter.

Two thousand dollars sounds like a good chunk of money - especially this time of year.

But will Wisconsin taxpayers get that much under the GOP House tax plan?
"We are fact-checking House Speaker Paul Ryan. He says the house tax bill would save a typical Wisconsin family $2000," said Tom Kertscher with the Milwaukee Journal Sentinel.

PolitiFact Wisconsin says the number Ryan is using applies to a couple with two minor children making a median income of $91,000 a year.  

"We found for that household of four, if they don't itemize their deductions on their taxes they would save about $2000 in 2018," said Kertscher.

PolitiFact Wisconsin says Ryan's example assumes the typical household takes the standard deduction and does not itemize. 

For the record more than half of Wisconsin tax filers with incomes between $75,000 and $100,000, itemize.

As for the two grand - don't count on it down the road. 
"Over time the savings would drop each year so if a family saved $2000 in 2018. By 2027 that savings would be only $800," said Kertscher.

PolitiFact Wisconsin rated Speaker Ryan's claim Half True - meaning it leaves out important details.