Top earners to receive lion’s share of income boost from GOP bill: CBO
The top tenth of the U.S. income spectrum is set to receive the biggest annual boost to their wealth as a result of the House-passed Republican tax-and-spending cut bill, according to a new analysis from the Congressional Budget Office (CBO), while the bottom three tenths are set to lose wealth and the fourth will break even.
CBO’s distributional analysis of House-passed tax perks released Thursday sweeps dramatically upward, showing that the wealth benefits of the bill increase as you move up the income scale.
Households making up to $107,000 a year will get an average of $1,200 in tax benefits a year through 2034. Those making up to $138,000 will get $1,750 a year; those making up to $178,000 will get $2,400 a year; those making up to $242,000 will get $3,650 a year, and households in the top tenth, making up to $682,000 a year, will get $13,500 in average annual........
© The Hill
