(DNAINFO) Amy Zimmer | October 6, 2017 — Many New Yorkers — except perhaps the superrich like Donald Trump and his family — may not not fare exceptionally well under the president’s proposals to cut taxes, most experts agree.

However, it’s hard to understand the potential impacts of Trump’s plan, which is little more than an outline, leaving many details to be filled in by Congress.

The framework states it “extends economic opportunities to American workers, small businesses, and middle-income families,” but New Yorkers could suffer if the Trump administration follows through on its plan to remove deductions for state and local income and property taxes from federal tax returns.

Critics have said this plan rehashes Reagan-era trickle-down economics. Supporters believe the cuts will help grow the economy.

Watchdogs warn that the city’s affordable housing plans could be in jeopardy because of cuts to tax-exempt bonds that finance such projects. Many worry that budget reductions would follow the tax cuts, which means that services, from the subways to children’s health care, could suffer even more.

Without important information, like designated income brackets, however, it makes it harder for think tanks to provide in-depth analyses and rebuttals, explained James Parrott, director of economic and fiscal policy at the New School’s Center for New York City Affairs.

“They’re trying to keep critical elements secret as long as possible,” Parrott believes.

Source: Here’s How Trump’s Tax Plan Might Hurt New York City – Boerum Hill – New York – DNAinfo