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Infrastructure Bill -- Pay For's

The Joint Committee on Taxation released its distributional analysis of the plan. Households with at least $1 million in annual income would pay 10.6 percent more in taxes in 2023. Their average federal tax rate would climb from 30.2 percent to 37.3 percent. Low-income households would receive large tax cuts for the first few years because of the bill’s extension of the expanded child tax credit and other refundable credits. Once many of those tax benefits expire after 2025, all but the lowest income households would pay more in taxes. However, that assumes all of the individual provisions of the 2017 Tax Cuts and Jobs Act also expire in 2025.


https://www.jct.gov/publications/2021/jcx-44-21/?&utm_source=%20urban_newsletters&utm_medium=news-DD&utm_term=TPC

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