November 28, 2017

The Atlantic: The Big Blue Losers in the GOP Tax Plan

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Between the mortgage and SALT limits, the bills hit many upper-middle-class taxpayers, especially in blue states. The Institute on Taxation and Economic Policy calculates that by 2027 the Senate bill would raise taxes on about 45 percent of households between the 80th and 95th income percentiles in California, Virginia, New Jersey, and New York; and over one-third of such families in Oregon, Minnesota, and Illinois. Many of those families are precisely the white-collar suburbanites who have long resisted Trump.

In all, ITEP has calculated that by 2027 taxpayers in New York, New Jersey, Maryland, and California—which Clinton won— would pay nearly $17 billion more in federal income taxes. At the same time, those in Texas and Florida—which backed Trump—would pay over $31 billion less. “You can definitely see the ideological tilt here,” Carl Davis, IRET’s research director, told me. Read more

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