tax cuts and jobs act

Most Read

Top stories

We Now Know How Much Extra Profit U.S. Banks Made as a Result of Trump's Tax Plan, and Yeah, It's a Lot
President Trump and GOP leadership head to a celebration of the passage of their tax cuts. (Photo by Alex Wong/Getty Images)

With voters already upset that the Trump and GOP tax plan meant a smaller refund for working and middle class people in the United States, the taxes not being paid by big business is unlikely to make them any happier. The latest revelation about who does and does not benefit from the Republican driven tax changes focused on the banking industry.

Despite the Internal Revenue Service (IRS) under President Donald Trump's Treasury Secretary, Steve Mnuchin, trying to explain away reality, people did not buy it. They're equally unlikely to buy any excuses about the $28 billion banks made in extra profits due to their Trump tax breaks.

Keep reading...Show less