SFGATE: Risk for middle class: That GOP tax cuts may become hikes

Risk for middle class: That GOP tax cuts may become hikes
Published on December 20, 2017 at 06:38PM by By JOSH BOAK, AP Economics Writer
WASHINGTON (AP) — It’s a Christmas gift the middle class might want to give back in a few years.
The Republican tax plan bestows an initial infusion of cash on nearly every taxpayer next year. That extra income is likely to please millions of households, support consumer spending and perhaps give the economy a short-term lift.
Ordinary households should enjoy it while it lasts. Over the next several years, multiple analyses of the bill have found, those tax cuts will gradually fade — and then morph into tax hikes for a majority of people who are solidly middle class.