Revised Senate plan would raise taxes for some, add to long-term debt, new reports find
http://www.latimes.com/politics/washington/la-na-pol-essential-washington-updates-revised-senate-tax-plan-gives-tax-hikes-1511292911-htmlstory.html
Almost one in 10 taxpayers would initially see a tax hike under the revised Senate Republican tax plan, and the proposal would add as much as $2.4 trillion in long-term debt, according to two new analyses raising fresh concerns ahead of next week’s expected Senate vote.
The Tax Policy Center said that while taxes on average would be reduced across all income groups under the plan, 9% of taxpayers would pay more in 2019 and half would pay more by 2027, as the tax cuts for individuals expire. Lower-income households would initially see average tax cuts of $50 a year, about 0.3% of after-tax income, while upper-income households would see cuts of more than $12,000, or 3.5% of after-tax income...
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