To the Editor:

The GOP Tax Reform draft will:

1. Increase the federal budget deficit by $2.5 trillion over first ten years;

2. Total deficit increase will be $5.9 trillion by 2037;

3. Tax cuts for corporations: $2.6 trillion over next  ten years;

4. Inheritance tax repeal only for top 0.2 percent of our population;

5. Initial tax cut for working poor, middle class, and upper middle class families will be between 0.5 percent and 1.2 percent only in 2018, but then this tax cut will shrink every year after 2018, and by 2027, middle class families will endure an average tax increase of 0.5 percent.

6. People with income over $730,000 get tax cut of 8.5 percent.

7. People with income above $5 million get over a 10 percent tax cut.

8. Income tax rate on lowest earners will rise from 10 percent to 12 percent.

9. Income tax rate on highest earners will decrease from 39.6 percent to 35 percent.

10. Personal deductions are eliminated - this includes personal and dependent deductions, student loan interest, medical expenses, state and local taxes, casualty costs, all eliminated - only mortgage interest and charitable donation deductions allowed.

11. Standard deduction increased to $12,000 for single filers and $24,000 for joint filers; child tax credit increased by $500.

Be aware that the new flat-sum standard deductions will fall short of the itemized deductions individuals and families have been counting on to enable home ownership, higher education, and to cover costs of care for dependent or disabled family members.

Polly Brody

218-B Heritage Village, Southbury          November 7, 2017