Tax Model Analysis Certain Individual Income Tax Credit Provisions Proposed by Vice President Harris (October 2024)

Description

Tables show the change in federal tax revenue and burden, from three individual income tax credit provisions proposed by Vice President Harris. The provisions would modify the child tax credit (CTC) and the earned income tax credit (EITC) and create a new fully refundable tax credit for first-time homebuyers. Distributional results are shown for calendar year 2025 and revenue estimates are shown for fiscal years 2025-34.

Simulation Run October 9, 2024
  • T24-0072 – Certain Individual Income Tax Credit Provisions Proposed by Vice President Harris, Impact on Tax Revenue 2025-34 Fiscal Years
  • T24-0073 – Certain Individual Income Tax Credit Provisions Proposed by Vice President Harris, Distribution by ECI Level, 2025
  • T24-0074 – Certain Individual Income Tax Credit Provisions Proposed by Vice President Harris, Distribution by ECI Percentile, 2025
  • Simulation Run October 16, 2024
  • T24-0075 – Earned Income Tax Credit (EITC) Expansion Proposed by Vice President Harris, Distribution by ECI Level, 2025
  • T24-0076 – Earned Income Tax Credit (EITC) Expansion Proposed by Vice President Harris, Distribution by ECI Percentile, 2025