Republican plans to overhaul the U.S. tax code will affect families differently, based on their locations, incomes, deductions, dependents and other factors.

The top 1% of households, for example, would get a 2.4% boost in after-tax income from the House bill in 2018, compared with 1.6% for the whole population, according to the Tax Policy Center. But within that group and others, outcomes vary significantly. Among the top 1%, for example, 80% would get tax cuts averaging $64,210 and 20% would get tax increases averaging $40,720.

...

NO COMMENTS

LEAVE A REPLY

Captcha image