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Article snippet: Nearly half of all middle-class families would pay more in taxes in 2026 than they would under current rules if the proposed House tax bill became law, and about one-third would pay more in 2018, according to a New York Times analysis, a striking finding for a bill promoted as a middle-class tax cut. President Trump and congressional Republicans have pitched the plan unveiled last week as a tax cut for most Americans. But millions of middle-class families — particularly those with children — would see an immediate tax increase, averaging about $2,000. Among the hardest-hit under the plan would be some of the most vulnerable taxpayers: those with huge out-of-pocket medical expenses. By 2026, 45 percent of middle-class families would pay more than what they would under the existing tax system. The preliminary Times analysis found that, in 2018, the plan would cut taxes for about 68 percent of families in the middle class, broadly defined as those earning between two-thirds and twice the median household income, or between about $50,000 and $160,000 per year for a family of three. For most of those families, the cut would be about $1,300 in 2018. In order to focus on families, the analysis excluded individual filers and households headed by people 65 or older and is adjusted for the size of each household. The bill is likely to change significantly in coming days. On Monday evening, the House’s tax-writing Ways and Means Committee began the formal process of reviewi... Link to the full article to read more