Medford, Ore., — President Donald Trump’s new tax plan is set to take big cuts, cuts the White House says are the largest in history.
US Representative Greg Walden says the plan is a good thing for Americans, but residents in the area NBC5 spoke with, say they aren’t set on it.
“I’m very concerned for my kids and my grandkids.”
Jackson County residents like Bernie Peyralans have concerns about President Donald Trumps new tax plan.
President Trump says the plan could offer significant relief for a lot of Americans, not only for families but individuals and businesses as well.
But Peyralans isn’t buying it.
“I would like to see a tax plan that creates an environment where the middle class can thrive. I just know it’s heading in a very dark direction.”
US Representative Greg Walden says the middle class has nothing to worry about.
“I think it’s a plan that will get jobs in america, and grow jobs here, it seems to have a nice tilt towards the middle as well.”
The plan will reduce individual income tax brackets from seven to three – 10 percent, 25 percent and 35 percent.
That doubles the standard deduction for individuals and married couples, leaving more money in people’s pockets and making filling taxes easier.
“We’ve done a lot in the area of tax reform over the years to try and strengthen families, let them keep more of what they earned to take care of their children and all, and to stimulate economic growth here in the country.”
Under the new plan, corporate taxes will also be cut down to fifteen percent.
“We have the highest corporate tax rate probably in the world, and thats why companies go elsewhere and invert and show up somewhere else, and keep the cash they generate offshore.”
But one resident, Nancy Cyr wants to see tax changes that help large amounts of Americans.
“I don’t see the benefit in that for most of the people, I see it as a benefit for only particular people.”
Regardless of how residents feel about the plan, Representative Walden is backing the plan, and says cutting back spending is key.
“What we have to do is get back to a sustainable government, that’s actually efficient and get the waste out of it. So when it comes to the deficit, there’s a lot of work that has to be done there.”
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