--- title: Donald Trump Wrongly Says Tax Bill Won't Help Him description: President Trump again claimed, wrongly, that he will not benefit from the Republican tax plan being considered in Congress. canonical: https://time.com/5041919/donald-trump-tax-reform-bill/ author: Tessa Berenson article:opinion: false article:content_tier: free article:published_time: 2017-11-29T21:48:50.000Z article:modified_time: 2026-02-23T18:23:28.778Z article:section: Politics og:title: President Trump Says, Wrongly, That He Won't Benefit From the GOP Tax Bill og:description: Multiple independent analyses have found it would help the wealthy. og:url: https://time.com/5041919/donald-trump-tax-reform-bill/ og:site_name: TIME og:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt4d9af48933bbb0b2/6988e707ab6d771cc26b0c24/gettyimages-880468372.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 og:image:width: 5760 og:image:height: 3240 og:image:alt: President Trump Honors Native American Code Talkers At White House og:type: article twitter:card: summary_large_image twitter:title: President Trump Says, Wrongly, That He Won't Benefit From the GOP Tax Bill twitter:description: Multiple independent analyses have found it would help the wealthy. twitter:image: https://static.time.com/v3/assets/bltea6093859af6183b/blt4d9af48933bbb0b2/6988e707ab6d771cc26b0c24/gettyimages-880468372.jpg?branch=production&width=1200&quality=75&auto=webp&crop=16:9 ---  # President Trump Says, Wrongly, That He Won't Benefit From the Republican Tax Bill > Sponsored content. 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It explains the politics, personalities and power dynamics behind the headlines, three times a week. #### Where can I get analysis of Washington politics by email? D.C. Brief is TIME's free Washington politics newsletter, available at time.com/newsletters. It is written by a TIME senior correspondent who covers the capital full time. #### Who writes TIME's D.C. Brief? Philip Elliott, a senior correspondent at TIME, writes D.C. Brief. #### Is D.C. Brief free? Yes. D.C. Brief is free at time.com/newsletters.  by [Tessa Berenson](https://time.com/author/tessa-berenson/)  ## Tessa Berenson Nov 29, 2017 9:48 PM UTC  President Donald Trump at an event honoring Native American code talkers at the White House on Nov. 27, 2017. President Donald Trump at an event honoring Native American code talkers at the White House on Nov. 27, 2017. Oliver Contreras—Pool/Getty Images  by [Tessa Berenson](https://time.com/author/tessa-berenson/)  ## Tessa Berenson Nov 29, 2017 9:48 PM UTC President Trump again claimed, wrongly, that he will not benefit from the Republican tax plan being considered in Congress, which contains multiple provisions that would help him and his family. Speaking in Missouri in an effort to promote the bill as it heads for a vote in the Senate, Trump said that the bill would hurt higher-income Americans like himself, a statement contradicted by several independent analyses of the legislation. “We are going to eliminate tax breaks and complex loopholes, taken advantage of by the wealthy,” he said, flanked by two Christmas trees onstage in St. Charles. “I think my accountants are going crazy right now.” “Hey, look, I’m president, I don’t care anymore,” Trump continued. “Some of my wealthy friends care. Me, this is a higher calling, do we agree?” An [analysis published Sunday](http://time.com/5038145/senate-tax-bill-cuts-poor-republican/) by the nonpartisan Congressional Budget Office found that the Senate bill would hurt lower-income Americans while giving significant tax cuts to those making more than $100,000 a year. The nonpartisan [Tax Policy Center](http://www.taxpolicycenter.org/feature/analysis-tax-cuts-and-jobs-act) found that “higher income households receive larger average tax cuts as a percentage of after-tax income, with the largest cuts as a share of income going to taxpayers in the 95th to 99th percentiles of the income distribution.” And an [NBC analysis](https://www.nbcnews.com/politics/first-read/trump-his-family-could-save-more-1-billion-under-house-n821491) found that Trump and his family could save more than $1 billion under the bill the House passed, based on his 2005 tax returns. Trump is the first president in decades to not release his tax returns, so it’s impossible to be sure exactly how tax reform would affect him. But [the House bill](http://time.com/5007611/trump-tax-plan-republican-reform/) includes several provisions that would help higher-income Americans. It would double the amount of money that is exempt from the estate tax — currently $5.6 million for an individual and over $11 million for married couples 2018 — and eliminate the tax altogether in six years. And it would repeal the Alternative Minimum Tax, which the Tax Policy Center says primarily impacts households with incomes above $200,000. The [Washington _Post_ reports](https://www.washingtonpost.com/news/business/wp/2017/11/27/trump-could-personally-benefit-from-last-minute-change-to-senate-tax-bill/?utm%5Fterm=.029e7fc457ad) Trump could also personally benefit from a last-minute change in the Senate’s version of the bill having to do with “pass-through” entities. Trump vowed in Missouri that if Congress sends him a finished tax bill, he will sign it. “I promise you I will sign it,” he told the crowd. “I will not veto that bill. 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