October 11, 2017

FiveThirtyEight: The GOP Had One Big Divide On Health Care. It Has Three On Taxes.

media mention

Here’s the problem: The draft Republican plan would raise a lot of people’s taxes. Estimates from the Tax Policy Center suggest that limiting tax deductions and going from seven tax brackets to three would cause tax increases for about 12 percent of taxpayers,1 including a third with incomes between $150,000 and $300,000, who would pay on average $1,800 more in taxes. The Institute on Taxation and Economic Policy, which is affiliated with the left-leaning Citizens for Tax Justice, estimates that about 17 percent of U.S. taxpayers would pay more under the GOP draft. Read more