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Table shows the distributional effect by expanded cash income percentile of a revenue neutral proposal that would: repeal the Net Investment Income Tax (NIIT), individual and corporate alternative minimum tax (AMT), phase-out of personal exemptions, and Pease limitation on itemized deductions; set individual tax rates of 6.4, 11.5, and 29.3; repeal individual income tax expenditures with the exception of EITC, CTC, and partial exclusion of Social Security benefits; set corporate taxrate of 26 percent; implement territorial system plus minimum tax on foreign-source income; and repeal corporate tax expenditures. Proposal is designed to be revenue neutral in FY 2037. Results are relative to a current law baseline.
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T17-0219 - Revenue Neutral Proposal to Lower Individual and Corporate Income Tax Rates and Repeal Certain Tax Expenditures; Distribution of Federal Tax Change by Expanded Cash Income Level, 2027
T17-0218 - Revenue Neutral Proposal to Lower Individual and Corporate Income Tax Rates and Repeal Tax Expenditures; Distribution of Federal Tax Change by Expanded Cash Income Percentile, 2027
T17-0217 - Revenue Neutral Proposal to Lower Individual and Corporate Income Tax Rates and Repeal Tax Expenditures; Distribution of Federal Tax Change by Expanded Cash Income Level, 2027
T17-0216 - Revenue and Distributionally Neutral Proposal to Lower Individual and Corporate Income Tax Rates and Repeal Certain Tax Expenditures; Impact on Tax Revenue, 2018-37 by Fiscal Year
T17-0215 - Revenue Neutral Proposal to Lower Individual and Corporate Income Tax Rates and Repeal Certain Tax Expenditures; Impact on Tax Revenue, 2018-37 by Fiscal Year
