As the U.S. Senate grapples over a tax reform bill that has support from the Trump administration, an economist from Texas A&M University sits down on First News at Four to discuss the plan.
"If you look at the income distribution, it generally benefits the people at the top of the distribution than at the bottom," said Raymond Robertson, Texas A&M Bush School of Government and Public Service professor and holder of the Helen and Roy Ryu Chair in Economics and Government. "And it seems like it's swinging even more in that direction."
"People who make $30,000 dollars or less will actually end up paying more under the bill, and most of the tax breaks go to the top, to the 95th or 99th percentile," said Robertson.
Robertson says the hope is that this wealth will trickle down, "but it's hard to predict exactly what will happen."
Robertson also expresses concern about the plan will do to potentially increase the deficit and says that's why two Republican senators may defect and vote against the plan as it stands.
For more from Robertson, see the video player above. For Robertson's bio and CV, see the Related Links.