MINNEAPOLIS - Say "tax reform" to a stranger on the street and you'll get a reaction, especially if you're in Minneapolis.
On Friday, Dec. 22, President Trump delivered on his Christmas promise to the American public. He signed a $1.5 trillion tax cut into law.
"It's going to be a tremendous thing for the American people. It's going to be fantastic for the economy," said Trump. "I consider this very much a bill for the middle class, a bill for jobs."
But some taxpayers in Minneapolis, particularly middle-class homeowners, disagree.
"It's a half baked plan," said Dr. Dave Nelson, who owns a home in Minneapolis. "This is coal in the stocking."
"It will affect me negatively because my taxes are high in the city of Minneapolis. The lack of deductibility will affect my bottom line negatively," he said.
Nelson is referring to the $10,000 cap on all state and local tax deductions. Previously, filers could deduct an unlimited amount for state and local property taxes, plus income or sales taxes.
"A lot of my friends are considering paying their real estate taxes early so they will get the deduction this year," said Dr. Nelson.
The law will also repeal the Affordable Care Act's individual mandate.
"It's a great Christmas gift for the donor class and for the millionaires that have all backed President Trump and the Republican Congress that backed this bill," said Marisa Katz of Minneapolis.
"I'm OK with paying taxes if it goes to paying the right thing," said Angela Lacombe of Minneapolis. "I think it's a patriotic thing to do to pay your taxes but how is (the money) going to be used? How is the budget going to balance itself out?"
To find out how the new tax plan will affect you, use this online tax calculator.