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Average earners’ tax bills would fall under House tax package, forecasters say

The report is likely to roil the partisan battle over who would benefit the most under the plan, as Democrats insist the wealthy would end up far better off than others

Brian Faler
By Brian Faler

Average-income people would see double-digit percentage declines in their tax bills under House Republicans’ tax package, according to a new official analysis that’s sure to inflame partisan fights over who would get what under the plan.

Those making between $30,000 and $80,000 would pay around 15 percent less in taxes in 2027, the report by the nonpartisan Joint Committee on Taxation shows. People making more than $1 million that year would see an 8.6 percent decline.

However, the analysis does not take account of a likely expansion of a deduction for state and local taxes, which would overwhelmingly benefit upper-income households, or look at the possible effect of spending cuts Republicans are also planning that would primarily hit lower-income people.

Read Full Article Here…(politico.com)


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