How Trump Tax Cuts Really Affected Rich
9th April 2025
President Donald Trump’s tax cuts from his first term helped low- and medium-income earners more than high earners, a new study from The Heartland Institute found.
The conservative think tank based in Illinois examined Internal Revenue Service data from 2017, the year Trump signed the Tax Cuts and Jobs Act into law, through 2022, the most recent year that tax data is available.
While all income earners got lower rates, high earners paid a larger portion of the tax burden from 2018-2022 compared to 2017 when the tax law was not in effect, the study found.