American taxpayers are up in arms after receiving severely lower tax refunds than in previous years. The lower refunds are a knock-on effect of Trump’s 2017 Tax Cuts and Job Act which promised lower taxes for the working class in 2018. However, as a result of less contributions paid during 2018, citizens are now seeing fewer returns.

In financial terms the lower refunds make perfect sense – but due to badly-managed expectations from the government, many Americans have been left shocked and angry.

‘Worst tax return in a decade! He’s lost my vote,’ said one user on social media, referring to Trump in the upcoming 2020 presidential elections.

Data from the Internal Revenue Service (IRS) suggests that the average tax for individuals has only increased by 8.4 percent, yet many claim they actually owe money this year despite no change in their situation.

One particularly irate user tweeted: ‘Despite adjusting my withholdings down, I went from getting a #taxrefund last year to owing $1700 this year! Same job, house, and situation. @realdonaldtrump, explain that!’

Has the situation affected Trump odds in the upcoming 2020 election?

Overall, Trump’s chances still remain relatively high and in fact have improved slightly on a few bookies websites.

Bovada has increased its odds for Trump to +150 and reduced odds on runner up Kamala Harris to +1000. BetOnline has also improved Trump’s odds to +200 and slightly reduced Harris to +800.

EU-based sports betting site Bwin offers slightly lower odds of 2/1 for Trump and 5/1 for Kamala Harris.

In the UK, William Hill are currently offering best odds of 7/4 for Trump to win the election, with 6/1 odds for Kamala Harris and 13/2 for Joe Biden.

Skybet and Betfred are offering only 15/8 odds on Trump to win and 11/2 for Kamala Harris.

Published by Mark Hartley

Mark is a freelance journalist and copywriter focused on the travel and technology sector. With prior experience working in the London finance and IT industry, he has written for several publications including blockchain, gambling and fitness websites. Contact him at mark@bettingreporter.com

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