$70 Billion GOP Borrow and Spend Tax Plan

Analysis of Tax Bill Finds More Benefits for the Rich


The tax cut bill that Senate and House leaders have generally agreed upon is expected to save Americans at the center of the income distribution an average of $20 each, according to estimates by the Tax Policy Center, a nonprofit research organization in Washington.

The top tenth of 1 percent, whose average income is $5.3 million, would save an average of $82,415


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Those who make less than $75,000 — which includes about 75 percent of all taxpayers — would save, at most, $110 each. Those making more than $1 million would save, on average, almost $42,000.

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Congress values the tax cuts at $70 billion. They would have to be financed with borrowing.