Economy

Trump en route to the Twin Cities for tax event

Trump en route to the Twin Cities for tax event

He then went on to call the 2017 tax cuts the "largest in history".

Trump narrowly lost Minnesota to Democrat Hillary Clinton in 2016 and is hoping to flip the state in 2020.

Most economists - including at the Federal Reserve - anticipate growth will slump this year to just above 2 percent as the stimulus from the tax cuts wanes.

The president's focus on tax day served to highlight his refusal to release his own tax returns.

Accompanying the president on the Tax Day jaunt are Treasury Secretary Steven Mnuchin and Minnesota U.S. Rep. Tom Emmer, a Republican who represents a district north of the Twin Cities.

Minnesota, which gave the country Vice Presidents Hubert Humphrey and Walter Mondale, both Democrats, hasn't given its 10 electoral votes to a Republican since Richard Nixon in 1972.

"Winning? Well, most USA taxpayers", she said.

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Minnesota U.S. Sen. Amy Klobuchar, a 2020 Democratic presidential candidate, said Sunday the tax cuts added trillions of dollars to the nation's debt and disproportionately helped the wealthy. "The truth is, Donald Trump is a rich businessman using the presidency and his tax bill to make money for himself and his rich friends".

She says it's because she believes in "transparency and accountability".

So far Trump doesn't appear to be getting much credit for the tax changes.

A poll released last week found that just 17 percent of Americans said they paid less under the Tax Cuts and Jobs Act. While the average filer was better off, it said, they weren't seeing it in their refunds, "which many people think of as their "bottom line'".

Another poll in March found that only 21 percent of taxpayers expect to pay less taxes, despite promises from the Trump administration that savings would be universal.

Further muddling the picture was the federal deduction for state and local taxes being capped at $10,000, which has mattered in high-tax states such as Minnesota, California and NY, among others.


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