ITEP 50-State Distributional Analysis of Final House-Senate Tax Bill

posted in: Tax Policy, Uncategorized | 0

From the Institute on Taxation and Economic Policy (http://www.itep.org/):

Like the initial House and Senate tax bills, the final tax legislation reserves the greatest share of the benefit for the wealthy and foreign investors and would hike taxes for average taxpayers in the lowest-earning three-fifths of households. Overall, the final House-Senate bill is slightly more regressive than the plan that passed the Senate earlier this month.

National charts and graphs and tables that outline how this legislation would affect each of the 50 states are here: https://itep.org/finalgop-trumpbill/

Below are a few highlights with links to charts that visualize the data points:

To view the entire report and details about what’s in the final bill, go to: https://itep.org/finalgop-trumpbill/

“This ‘compromise’ tax bill contains a bit of window dressing to provide political cover for a handful of lawmakers, but it remains an egregious misuse of our tax code to redistribute wealth upward,” said Alan Essig, executive director of the Institute on Taxation and Economic Policy. “The wealthy and corporations make out like bandits while working people are tossed a few crumbs sprinkled with promises of eminent cuts to essential programs and services.”

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