T17-0112 - Tax Benefit of Certain Retirement Savings Incentives (Present-Value Approach), Baseline: Current Law, Distribution of Federal Tax Change by Expanded Cash Income Level, 2017

Distribution of the tax benefits of retirement savings incentives measured using a cash flow approach that compares current law with a proposal that would (a) repeal both after-tax contributions and tax deferral of contributions to IRAs, Keogh accounts, defined contribution plans and defined benefit retirement plans; and (b) repeal the saver's credit. Tax benefits for current year contributions are calculated as the present value of tax reductions relative to equivalent contributions to a taxable account. Table shows the benefit by income level under current law for 2017.