- The Tax Policy Center released its analysis of the Build Back Better Act, finding that the $1.85 trillion package would give more than 65 percent of Americans making at least $1 million per year an average tax cut of $16,760. The package would also cut taxes for most households not in the top 1 percent of earners in 2022. However, taxes would slightly increase for many middle- and upper-income Americans in 2023 and then climb more widely in 2026. Most households earning less than $400,000 would see tax cuts or little change in their tax bills, though significant portions would still see slight tax increases when corporate provisions are factored in. (Report here; Articles here, here, and here)
November 12, 2021
D.C. News