Senate Republican Tax Plan Would on Average *Raise* Taxes on All Income Groups Earning Less Than $75K

By Robert Wenzel

​Congress’s Joint Committee on Taxation says the Senate version of the Tax Cuts and Jobs Act would raise taxes on most low and middle-income taxpayers.

Households earning between $75,000 and $100,000 will see, on average, no tax cut. And households earning less than $75,000 per year will see, on average, a tax increase.

Lily Batchelder, a tax professor at NYU who used to be the chief tax counsel for the Senate Finance Committee, has the chart:

New estimates: Senate Republican tax plan would on average *raise* taxes on all income groups earning less than $75K by 2027, according to nonpartisan official estimators JCT. 1/2 pic.twitter.com/ov0tUZC3TZ

— Lily Batchelder (@lilybatch) November 16, 2017

Per the JCT’s tables, about 65 percent of households fall into the categories that are expecting tax increases.

Reprinted with author's permission from EconomicPolicyJournal.com