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Vast Majority of Americans Would Likely Lose From GOP’s Tax Bills, If GOP Use Spending Cuts to Pay for Them

December 8, 2017

The House- and Senate-passed Republican tax bills would directly hurt millions of low- and middle-income families by raising their taxes, delivering token or no Child Tax Credit increases, and (in the Senate’s case) leaving millions more uninsured. But that may be just the start of the harm. Paying for their $1.5 trillion in tax cuts that go overwhelmingly to the wealthy and profitable...

Bottom Three-Fifths of Households Would Lose Under Senate Tax Bill, Once Fully Financed

GOP Budgets, Statements Make Plans Clear: Costly Tax Cuts for Wealthy Now, Program Cuts Later

December 5, 2017

Republican leaders have repeatedly said in recent weeks that after enacting a tax bill, they will turn to budget cuts.

Dollar and Columns

Weakening the Estate Tax Is a Bad Idea – So Is Repealing It

December 5, 2017

The Senate-passed tax bill would double the value of estates that’s exempt from the estate tax, from $11 million per couple ($5.5 million per person) to $22 million per couple ($11 million per person). And, as explained below, Senate Finance Committee...

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JCT: Millions of Households Face Tax Increase or No Tax Benefit Under Senate GOP Bill

November 30, 2017

Millions of households would face tax increases or get little from the Senate tax bill – even before most of its individual income tax provisions would sunset in 2025, new Joint Committee on Taxation (JCT) estimates released yesterday show.

E Pluribis Unum Budget

Trump Favors Larger Corporate Tax Cuts Over More Help for Children in Low-Income Working Families

November 30, 2017

Underscoring that large, permanent tax cuts for corporations are President Trump’s highest priority for the Senate tax bill, the President is reportedly opposed to a proposed amendment from Senators...


How Senate Tax Bill Supporters Are Hiding the Bill’s True Impact

November 29, 2017

Republican congressional leaders point to Joint Committee on Taxation (JCT) and Congressional Budget Office (CBO) estimates of the pending Senate GOP tax bill to say that every income group would get a tax cut from it. But they use these estimates in highly selective and...

JCT and CBO: Senate Tax Bill Cuts Spending, Raises Taxes for Lower-Income Households to Help Pay for Tax Cuts

Senate Finance Committee Tax Bill Even More Skewed to Top Than Bush Tax Cuts

November 28, 2017

The tax bill on which the Senate may vote this week would provide an even larger share of its tax benefits to the wealthy than the tax cuts enacted under President George W. Bush, which many lawmakers — including several Republican senators — criticized for their misplaced priorities.

Senate Tax Bill More Skewed to Top Than Bush Tax Cuts -- Even Without Counting Its Health Coverage Effects

Obscure Provision Tilts Senate Tax Bill Even More to Corporations

November 22, 2017

Under an obscure “trigger” provision, the Senate Finance Committee tax bill tilts its tax cuts even more to the nation’s wealthiest corporations at the expense of hard-working families.


CBO and JCT Estimates Show Senate Bill Skewed to Top, Harmful to Low- and Middle-Income Americans

November 18, 2017

As we’ve explained, Joint Committee on Taxation (JCT) estimates show that the Senate Finance Committee tax bill provides by far the largest benefits to high-income people and leaves many low- and middle-income households worse off. A new Congressional Budget Office (CBO) analysis provides estimates for the bill’s impact on Medicaid and other federal health spending that’s not included in the...

Bills Bar Chart

Senate’s “Pass-Through” Tax Cut Favors Biggest Businesses and Wealthiest Owners

November 14, 2017

The tax bill that the Senate Finance Committee will consider this week includes a tax cut for “pass-through” businesses that’s heavily skewed to the biggest businesses and the wealthiest business owners.

Pass-through income is income from businesses such as partnerships, S corporations, and sole proprietorships that business owners claim on their individual tax returns and that’s taxed...