Nonpartisan Group Reveals Almost Every Income and Taxpayer Group Gets a Cut Under GOP Plan Nonpartisan Group Reveals Almost Every Income and Taxpayer Group Gets a Cut Under GOP Plan – NTK Network

Nonpartisan Group Reveals Almost Every Income and Taxpayer Group Gets a Cut Under GOP Plan

The tables, assembled by USAFacts using data from the Joint Committee on Taxation (JCT), underscores the income benefits of the GOP tax plan.

By NTK Staff | 12.13.2017 @4:35pm
Nonpartisan Group Reveals Almost Every Income and Taxpayer Group Gets a Cut Under GOP Plan

New tables presented by the nonpartisan group USAFacts reveals that the Senate GOP tax plan, the last one passed by Congress, would benefit almost every income group and every type of taxpayer.

The average benefits look something like this:

  • All families: $1,497 tax cut
  • Single taxpayers with no kids: $539 tax cut
  • Single taxpayer with kids: $470 tax cut
  • Married taxpayers with no kids: $2,751 tax cut
  • Married taxpayers with kids: $3,540 tax cut
  • Elderly taxpayers: $983 tax cut

The middle 20 percent of earners, making between $31,000 and $61,000 per year, get a cut of between five percent and 10.9 percent, depending on what kind of taxpayer they are.

USAFacts is a group started by Los Angeles Clippers owner and philanthropist Steve Ballmer. The team is comprised of experts from the Stanford Institute for Economic Policy Research (SIEPR), the Penn Wharton Budget Model, and Lynchburg College.

The House GOP and Senate GOP reportedly have a deal on their separate tax bills, and a vote on the compromise bill may come as soon as next week.

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