Source: Institute on Taxation and Economic Policy
by Carl Davis
“The U.S. House of Representatives unveiled a sprawling piece of tax legislation earlier this week that would extend temporary tax changes enacted in 2017 and layer various kinds of tax cuts and increases on top. The Institute on Taxation and Economic Policy is currently working to analyze the bill with its microsimulation tax model and expects to report substantial new findings in the days ahead. In the meantime, there are insights to be gained from the wealth of information on revenue cost and distribution by income level published by Congress’ Joint Committee on Taxation. The Joint Committee on Taxation (JCT) analysis makes clear that the House tax plan would be regressive, meaning it would offer larger tax cuts as a share of income to high-income taxpayers than to either middle-class or working-class families.” (05/17/25)
https://itep.org/house-tax-plan-trump-tax-cuts-by-the-numbers/