ITEP: Families Plan Tax Changes Wouldn't Affect Most Taxpayers

ITEP: Families Plan Tax Changes Wouldn't Affect Most Taxpayers

Institute on Taxation and Economic Policy

The tax proposals of the American Families Plan, including an increase in the top personal income tax rate to 39.6 percent, would affect only the wealthiest 1 percent of taxpayers, and the income tax increases would raise $88.4 billion in tax year 2022, the Institute on Taxation and Economic Policy said in a report released April 29.

The tax proposals of the American Families Plan, including an increase in the top personal income tax rate to 39.6 percent, would affect only the wealthiest 1 percent of taxpayers, and the income tax increases would raise $88.4 billion in tax year 2022, the Institute on Taxation and Economic Policy said in a report released April 29.

The tax proposals of the <a href="/lr/resolve//59nzn">American Families Plan</a>, including an increase in the top personal income tax rate to 39.6 percent, would affect only the wealthiest 1 percent of taxpayers, and the income tax increases would raise $88.4 billion in tax year 2022, the Institute on Taxation and Economic Policy said in a report released April 29.