Average-income people would see double-digit percentage declines in their tax bills under House Republicans’ tax package, according to a new official analysis that’s sure to inflame partisan fights over who would get what under the plan.
Those making between $30,000 and $80,000 would pay around 15 percent less in taxes in 2027, the report by the nonpartisan Joint Committee on Taxation shows. People making more than $1 million that year would see an 8.6 percent decline.
However, the analysis does not take account of a likely expansion of a deduction for state and local taxes, which would overwhelmingly benefit upper-income households, or look at the possible effect of spending cuts Republicans are also planning that would primarily hit lower-income people.
Forecasters dropped the analysis on lawmakers as they jousted over the winners and losers under the plan at a frequently contentious meeting of the tax-writing Ways and Means Committee. Democrats called the plan a giveaway to billionaires, frequently invoking Tesla founder Elon Musk.
Republicans scoffed, pointing to provisions in their plan that would expand the Child Tax Credit and standard deduction while creating new breaks for tips, overtime pay, seniors and car-loan interest.
Hellbound and Down 