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Central Coast residents react to the passing of the GOP tax bill

Local reaction on the GOP Tax Bill

MONTEREY COUNTY, Calif. - President Donald Trump and Republicans are celebrating the passing of the tax bill. So how do people on the Central Coast feel? Reactions are mixed.

"People like me are going to see maybe a slight reduction in taxes at first, but then we're going to see our taxes go up," says Salinas resident Stirling Forsyth.

Susan Landreth also shared a concern in Salinas today, saying " it seems to be that it profoundly favors those who are already wealthy."

Calls are already pouring in to tax service business, including Lopez Tax Serve in Salinas. They tell KION that they are seeing a roughly 50 percent increase in calls, which they attribute to the newly passed tax bill.

CEO Carlos Lopez says most people are calling to find out how the bill will impact themselves and their families.

"What has changed is most Americans will pay less in 2018," said Lopez. "Standard deduction has been doubled, exemptions have been eliminated, the child tax credit increased from a thousand to two-thousand dollars."

But some states, like California, are expected to see taxes rise for some individuals, because of the decrease in state and local tax deductions.

"If you make over $260,000 a year, I believe you will be paying a little bit more," said Lopez.

Other deductions are also gone or reduced.

"Anyone (who used) moving expenses may not be able to deduct those as well. There are going to be caps on home mortgage interest and property taxes," said Lopez Tax Service District Manager, Josue Rojas.

The company says who pays less and who pays more all comes down to the individual and their situation.

"If they are worried about it, go see their certified tax preparer," said Lopez.

 


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