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Most workers will see pay hike in February under new tax law

Most workers will see pay hike in February under new tax law

About 90 percent of all workers will see an increase in their take-home pay under new guidelines and withholding tables by the U.S. Treasury and the IRS, according to CNN.

The updated tables were prompted by the new tax law.

The fast rollout of the changes is designed to offer new tax law benefits to as many people as possible while also limiting disruptions to the payroll process, according to published reports.

Major changes in the tax tables include “new tax brackets, (mostly) lower income tax rates, a near-doubling of the standard deduction, and the elimination of both personal exemptions as well as many itemized deductions,” CNN reported.

“I look forward to GAO’s independent review of these tables, which will expose whether the Trump administration is tampering with Americans’ paychecks, resulting in a whopping tax bill next year,” Wyden said.

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