HOBOKEN, N.J.—The average monthly paycheck for Americans is increasing by $130.76 a month as a result of the recent tax code changes, and that, not surprisingly, has left Americans feeling more financially confident, according to a new survey.
The survey of 1,000 Americans conducted by LendEDU found:
- Take-home pay after taxes increased by 3.5% on average
- 35.7% of respondents are using the tax savings to pay down debt, 9.9% of respondents are increasing luxury spending
- 12.8% of respondents are increasing retirement savings, and of those, 47.66% believe that they will be able to retire sooner.
- 55.3% of respondents are more confident in their financial futures as a result of the tax plan changes
- 50.3% of respondents reported a more positive sentiment towards President Trump
- 60.7% of respondents believe that the 2018 tax plan will strengthen economy
For the complete report, go here: https://lendedu.com/blog/tax-plan-changes-take-home-paychecks