February 7, 2001

Bush Tax Cut Delivers the Most to the Top of the Income Spectrum,
No Matter How It's Measured

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On February 6, the Center on Budget and Policy Priorities issued an analysis, "How Would Families At Different Income Levels Benefit From the Bush Tax Cut?" The report finds that the package of tax cuts proposed by President Bush are heavily skewed toward those at the top of the income spectrum. The report includes the following information:

White House officials who claim lower-income families would receive the largest percentage tax reduction are focusing only on income taxes. Low- and moderate-income families pay more in other federal taxes — principally payroll taxes — than in income taxes. It is possible to eliminate a large percentage of the small income tax liability that many moderate-income families incur and register only a small impact on the total federal taxes that such families pay.