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ITEP Work in Action July 21, 2017 Kentucky Center for Economic Policy: Trump Tax Plan Would Be a Windfall for Only the Wealthiest Kentuckians
The wealthiest Kentuckians would be winners from the $4.8 trillion in federal tax cuts President Donald Trump has proposed, as shown by a new report from the Institute on Taxation… -
ITEP Work in Action July 20, 2017 West Virginia Center on Budget & Policy: New Report Shows Trump Tax Plan Benefits Wealthy, Fails to Help Middle Class
A new analysis from the Institute on Taxation and Economic Policy reveals a federal tax reform plan based on President Trump’s April outline would fail to deliver on its promise of largely helping middle-class taxpayers, showering 61.4 percent of the total tax cut on the richest 1 percent nationwide. In West Virginia, the top 1 percent of the state’s residents would receive an average tax cut of $51,600 compared with an average tax cut of $720 for the bottom 60 percent of taxpayers in the state.
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ITEP Work in Action July 20, 2017 Economic Progress Institute: Trump Tax Plan Would Mostly Benefit Wealthiest Rhode Island Taxpayers
A new analysis from the Institute on Taxation and Economic Policy reveals a federal tax reform plan based on President Trump’s April outline would fail to deliver on its promise of largely helping middle-class taxpayers, showering 61.4 percent of the total tax cut on the richest 1 percent nationwide. In Rhode Island, the top 1 percent of the state’s residents would receive an average tax cut of $86,610 compared with an average tax cut of just $430 for the bottom 60 percent of taxpayers in the state.
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ITEP Work in Action July 20, 2017 Maine Center for Economic Policy: Trump Tax Plan Would Give Richest Maine Taxpayers an Average $53,000 Tax Cut and Trigger Deep Cuts to Federal Dollars for Maine
A new analysis from the Institute on Taxation and Economic Policy reveals a federal tax reform plan based on President Trump’s April outline would fail to deliver on its promise of helping middle-class taxpayers, showering three out of every five dollars of the total tax cut on the richest 1 percent nationwide. In Maine, the top 1 percent of the state’s residents would receive an average tax cut of $53,000 compared with an average tax cut of $400 for the bottom 60 percent of taxpayers in the state.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Nebraska with 52.6 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Nebraska would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,572,200 in 2018. They would receive 52.6 percent of the tax cuts that go to Nebraska’s residents and would enjoy an average cut of $128,300 in 2018 alone.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in North Carolina with 46.5 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in North Carolina would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,541,500 in 2018. They would receive 46.5 percent of the tax cuts that go to North Carolina’s residents and would enjoy an average cut of $78,880 in 2018 alone.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in New Hampshire with 41.3 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in New Hampshire would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,668,100 in 2018. They would receive 41.3 percent of the tax cuts that go to New Hampshire’s residents and would enjoy an average cut of $98,940 in 2018 alone.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Vermont with 39.1 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Vermont would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,192,800 in 2018.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Missouri with 50.3 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Missouri would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,587,000 in 2018. They would receive 50.3 percent of the tax cuts that go to Missouri’s residents and would enjoy an average cut of $101,580 in 2018 alone.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in New York with 66.9 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in New York would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $3,234,000 in 2018. They would receive 66.9 percent of the tax cuts that go to New York’s residents and would enjoy an average cut of $176,680 in 2018 alone.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Montana with 51 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Montana would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,819,000 in 2018. They would receive 51 percent of the tax cuts that go to Montana’s residents and would enjoy an average cut of $113,270 in 2018 alone.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Pennsylvania with 50.2 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Pennsylvania would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,780,400 in 2018.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Utah with 65.5 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Utah would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,573,600 in 2018.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in New Jersey with 54.7 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in New Jersey would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $3,101,200 in 2018. They would receive 54.7 percent of the tax cuts that go to New Jersey’s residents and would enjoy an average cut of $130,440 in 2018 alone.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Wyoming with 64 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Wyoming would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $3,008,400 in 2018.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Texas with 59.3 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Texas would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $2,019,900 in 2018.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Oklahoma with 56.3 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Oklahoma would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,379,600 in 2018.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Tennessee with 44.6 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Tennessee would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,793,500 in 2018.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Ohio with 47.2 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Ohio would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,485,800 in 2018.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Washington with 53.6 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Washington would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,983,800 in 2018.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in North Dakota with 51.3 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in North Dakota would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,714,800 in 2018.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Wisconsin with 50.6 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Wisconsin would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,786,500 in 2018.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Oregon with 45.6 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Oregon would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,676,800 in 2018.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in Mississippi with 47.8 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Mississippi would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,108,300 in 2018. They would receive 47.8 percent of the tax cuts that go to Mississippi’s residents and would enjoy an average cut of $62,390 in 2018 alone.
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July 20, 2017 Trump Tax Proposals Would Provide Richest One Percent in West Virginia with 37.4 Percent of the State’s Tax Cuts
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in West Virginia would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $791,400 in 2018.