In Charts, How These 7 Taxpayers’ Bills Would Change If Tax Reform Was Enacted

Heritage

. . . "This analysis does not, however, show how those tax cuts would vary based on factors such as total income, type of income, number of children, and itemized deductions.

"While the plans lack a pro-growth cut to the top marginal tax rate (the Senate plan slightly lowers the top rate, but the House keeps the top rate and adds a higher bubble rate), both bills achieve significant reductions in business tax rates. This will help make America more competitive with the rest of the world, and will result in more and better jobs as well as higher incomes for all Americans.

"To get a better idea of how some workers, families, and small businesses would fare under the proposed tax reform, The Heritage Foundation has estimated the tax bills of a range of taxpayers under current tax law, the House’s Tax Cuts and Jobs Act, and the Senate’s modified mark of that bill." . . .  Full article.
Rachel Greszler is a senior policy analyst in economics and entitlements at The Heritage Foundation's Center for Data Analysis. Read her research.

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