That's an effective tax rate of 20.4 percent, about 1 percent lower than what the couple was taxed at in 2017, when they paid $33,720.
On the afternoon of Monday, April 15, President Trump made an appearance at Nuss Truck and Equipment in Burnsville, Minnesota.
The state's Democrats saw a huge overall resurgence during the anti-Trump backlash of 2018, notably in traditionally Republican suburbs of Minneapolis and St. Paul. The tax cut is increasing the federal debt.
The president says the economy is doing well. "This was not simply ー 'we're going to take all the tax rates and reduce them'". He said weekly earnings are up and more people are working and prospering. Minnesota U.S. Sen. Amy Klobuchar, a 2020 Democratic presidential candidate, said Sunday the tax cuts had added trillions of dollars to the nation's debate and disproportionately helped the wealthy. "This is the hottest economy in the world".
Tax day, the final day to file a tax return for 2018 without an extension, has left many taxpayers scratching their heads about the "massive tax cuts" promised by President Donald Trump. He claimed his tax cuts are the largest in USA history, but the facts show otherwise.
Companies are reaping benefits, using their savings to buy back stock at a record pace, according to TrimTabs Investment Research.
So far Trump doesn't appear to be getting much credit for the tax changes.
Trump flew to Minnesota on Monday to highlight the $1.5 trillion package of corporate and individual tax cuts he signed into law in 2017.
"President Trump is trying to hide the real effect of his tax bill from the American people, just like he's trying to hide his own tax returns", a statement from DFL chair Ken Martin read.
Trump was joined at the roundtable by Treasury Secretary Steven Mnuchin, Minnesota Republican U.S. Rep. Tom Emmer, small business owners from Minnesota, Nevada, Pennsylvania and Florida and others.
Political analyst Blois Olsen says Trump is focused on Minnesota because he loves to win, and this is a state he nearly won.