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T22-0154R - Modify Certain Business Provisions Enacted by the 2017 Tax Act (TCJA), Make CTC Fully Refundable, and Extend Expansion of EITC for Workers without Qualifying Children, by ECI Percentile, 2023

Table shows the change in the distribution of federal taxes, by expanded cash income percentile in 2023, of: repealing amortization of research and experimental (R&E) expenditures; extend limitation of interest deductions to 30 percent of EBITDA; make 100 percent bonus depreciation permanent; make the child tax credit (CTC) fully refundable regardless of earned income or individual income tax liability; and extend expansion of earned income tax credit (EITC) for workers without qualifying children enacted by the American Rescue Plan (ARP). These tables were revised on December 7, 2022.

December 5, 2022