Taking all the policies of President Trump and the Republican majority in Congress into account, all but the richest Americans are paying higher taxes on average in 2026 than they did last year. These policies include:
- Dramatically increased tariffs on goods from abroad, a tax that economists widely agree is mostly borne by American consumers.
- The termination of the Enhanced Premium Tax Credit (EPTC), which had made health care more affordable for millions of people.
- The so-called One Big Beautiful Bill Act (OBBBA), which overwhelmingly benefits the rich and corporations. - ITEP
Wednesday, March 11, 2026
The real costs, for most, of Trump tax policy
This has graphs and other more specific information.
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One of the aspects of the Trump Tax policy they like to promote is "NO TAX on overtime" which has a lot of qualifiers (see the link below) but more importantly is how many people are working overtime now ... and according to the February 2026, Bureau of Labor Statistics (BLS) reports that average weekly overtime hours in manufacturing was 3.0 hours. Remember that only applies to the federal income tax, the FICA, FUT and SUT deductions still apply. Further, only the premium portion is exempt ... see below for examples for police officiers. Plus many people are not working a 40 hour week, so they won't get overtime. In my experience, it was only the critical workers who were asked to work overtime, so even those workers may not see the benefit as they thought as the maximum annual deduction is $12,500 Also, the overtime deduction is currently set to expire after 2028.
ReplyDeletehttps://www.epi.org/publication/everything-you-need-to-know-about-no-tax-on-overtime/
https://wppa.com/irs-clarifies-no-tax-on-overtime-rule-what-wppa-members-need-to-know/