Senate Plan Hikes Taxes by 2021 on Some Lower-Income People, Panel Says
- Those making $20,000 to $30,000 would see 13% increase by 2021
- By 2027, Americans making less than $75,000 would see tax hike
Trump Was Careful to Stay Out of Tax Details, Says Cole
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The revised Senate Republican tax proposal would lead to a 13 percent tax hike on Americans making between $20,000 and $30,000 per year by 2021, according to an analysis by the Joint Committee on Taxation.
Those earning from $500,000 to $1 million would see the biggest cut in taxes -- 8.5 percent -- by 2021, the JCT said Thursday. The JCT is one of Congress’s official scorekeepers and responsible for analyzing the tax plan’s effects.