The OBBB Preserves Tax Cuts for Low and Middle Income Earners
Jeff Graber
Opposing Viewpoint
According to analysis from the Joint Committee on Taxation (JCT), the legislation preserves $378 billion in existing tax relief and delivers $167 billion in new tax relief, with the most significant proportional benefits going to Americans earning under $50,000. For example, individuals earning between $15,000 and $30,000 see a 21.4% reduction from current law (not including existing tax cuts set to expire).
Source Title: Distribution Of The Estimated Revenue Effects Relative To The Current Policy Baseline Of The Tax Provisions In "Title VII - Finance" Of The Substitute Legislation Under Consideration By The Senate To Provide For Reconciliation Of The Fiscal Year 2025 Budget
Source Category: Governmental
Source Format: Report
Publication Date: July 1, 2025
Publisher: Joint Committee on Taxation (Self Published)
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