McClatchy: A Republican senator has a plan to ‘Rescue America.’ Here’s what it could cost Californians

But it’s the lowest wage earners who would pay more taxes, according to the Institute on Taxation and Economic Policy. The nonpartisan Tax Policy Center reached the same conclusion.

The ITEP’s estimate of the impact on Californians: ▪ Lowest 20% of income earners, making $26,100 or less, a tax increase of $790. ▪ Second 20%, making $26,100 to $49,900, tax increase averaging $1,550. ▪ Middle 20%, making $49,900 to $82,700, tax increase averaging $480. ▪ Next 20%, making $82,700 to $147,800, tax increase averaging $130. ▪ Next 15%, making $147,800 to $344,200, tax increase averaging $20. ▪ Next 4%, making $344,200 to $961,700, tax increase averaging $10. ▪ Wealthiest 1%, making more than $961,700, no increase. A smaller percentage of Californians would probably see higher taxes than in other states.

Read more at: https://www.sacbee.com/news/california/article260518127.html#storylink=cpy

---