Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today issued the following statement in reaction to data from the Joint Committee on Taxation (JCT) on the benefits of the pass-through deduction in the Republican tax law:
“Another Republican talking point in support of their tax law bites the dust. Just as Democrats predicted, new JCT data again confirms that the so-called ‘small business’ deduction provides the most benefits to those at the top. Two-thirds of the tax cuts from this deduction are going to households making more than $300,000 per year. These are not the struggling small business owners we were told this provision would benefit."
