- The Joint Committee on Taxation estimated 9.1% of taxpayers would receive an increase to their tax bill in 2019 under the Senate’s tax bill.
- Based on the JCT’s number of taxpayers for 2019, that would mean 16 million taxpayers would see a tax increase that year.
- At the same time, just under 60% of taxpayers would get a cut of $US100 or more according to the JCT.
A chunk of Americans could actually see their tax bills increase under the Senate GOP tax reform proposal, according to an analysis released Monday.
The report from the Joint Committee on Taxation, a nonpartisan arm of Congress, found that 9.1% of American taxpayers would see their bills go up in 2019 under the Senate version of the Tax Cuts and Jobs Act (TCJA).
Another report from the JCT estimated that roughly 16 million taxpayers would see their tax bills go up under the Senate plan.
Based on the JCT’s numbers, 13.8 million of those 16 million taxpayers who would see an increase make $US200,000 a year or less, and 7.9 million make $US100,000 a year or less.
According to the JCT’s analysis, the percentage of people seeing their taxes increase would grow over the life of the Senate’s tax bill. In 2027, 12.2% of people would see their taxes increase by $US100 or more and 29% of people would see no change to their taxes.
At the same time, the percentage of people getting a tax cut would stay relatively steady, with 59.7% of all taxpayers projected to get a tax cut of $US100 or more in 2019 and 58.8% in 2027.
The JCT estimated that the average American in each income bracket would receive a tax cut in 2019.
Business Insider Emails & Alerts
Site highlights each day to your inbox.