A Trump-Pence tax cut could leave many families out of pocket

Trump-backed tax cuts would likely lead to higher premiums and deductibles for many families in 2018, according to an analysis from the Center for American Progress and the Kaiser Family Foundation.

The analysis found that in the 10 years that the Trump-led tax plan would have taken effect in 2018 — the last year before Trump’s plan was enacted — premiums for average families would be higher than they are today, while deductibles would rise.

The cuts, if passed, would increase premiums for middle- and lower-income families by a combined 23 percent, the analysis found.

The nonpartisan Congressional Budget Office estimates that the bill would leave the average family with $3,500 in additional costs over the next 10 years.

That’s because of tax cuts for high-income earners, a tax cut for corporations and a reduction in the child tax credit.

The tax cuts also would disproportionately affect children, who would see their premiums rise by an average of 30 percent, according the analysis.

Trump has also proposed eliminating the estate tax, which he has said would encourage families to sell assets, including their homes, and donate them to charity.

The estate tax is currently $5 million per estate and $1.5 million for each spouse.

But Trump’s proposal would lower the tax rate from 35 percent to 21 percent.

It’s also possible that the estate deduction could be eliminated.

Under the House Republican plan, individuals and estates would see the highest tax cuts of any group.

But the estate exemption would rise from $10 million to $40 million, meaning many of those families would face a tax hike.

The Trump-Ryan tax plan also would eliminate a tax credit for child care expenses.

That credit would reduce payments to providers like hospitals, and those payments could lead to lower quality care, which could lead the providers to charge higher prices.

In addition to the child care cuts, the Trump plan would repeal a number of other tax breaks that help families.

The plan would allow businesses to deduct up to $500,000 from the cost of a house or apartment, for example, and it would eliminate the estate and charitable contributions tax breaks.

And, it would also repeal a tax break that lets people save up to 3 percent of their income to invest in their own businesses.

That tax break, however, was created under George W. Bush and is set to expire at the end of this year.

It remains to be seen if the Trump tax plan will win enough Republican support to pass.

But it’s likely to be the largest tax cut of any tax bill since the Reagan tax cuts in the 1990s, when the GOP was in control of both houses of Congress.

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The Associated Press contributed to this report.)

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