The Tax Policy Center has analyzed the tax plan agreed upon by President Obama and the Congressional Republicans and produced various tables showing the plan’s distributional effects, comparing the proposed payroll tax cut with the Making Work Pay tax credit, and evaluating the effects of alternative changes in the estate tax. TPC has also summarized the Joint Committee on Taxation’s revenue estimates for the plan.
A brief outline of the plan can be found here.
Older TPC estimates can be found here.
Distributional Effects of the Compromise Agreement |
| Measured against a Current Law baseline |
| By Cash Income Level | By Cash Income Percentile |
| | |
| Measured against a Current Policy baseline |
| By Cash Income Level | By Cash Income Percentile |
| | |
| Comparison of Making Work Pay tax credit and Social Security Tax Cut |
| Measured against a Current Policy baseline |
| By Cash Income Level | By Cash Income Percentile |
| | |
| Comparison of 2010 and 2011 Tax Laws |
| Measured against 2010 Law Under the Act, Evaluated at 2011 Income Levels |
| By Cash Income Level | By Cash Income Percentile |
| | |
Estate Tax |
| Taxable Estates, Estate Tax Liability, and Average Estate Tax Rate |
| |
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