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T17-0192 - Distributional Effects of Proposals Related to the Trump Administration's 2017 Tax Plan; Tax Cut and Possible Revenue Raising Provisions, by Expanded Cash Income Percentile, 2018

Distribution of federal tax change from the tax cut and possible revenue raising provisions of proposals related to the Trump Administration's 2017 tax plan in 2018. The proposal would repeal the net investment income tax (NIIT); the  individual and corporate AMT; set individual tax rates of 10, 25, and 35 percent; double the standard deduction; provide relief for dependent care expenses; reduce the tax rate to 15 percent on pass-through income; repeal the estate and gift tax and tax capital gains at death with $5M/$10M exemption; reduce corporate tax rate to 15 percent; adopt a territorial tax system and impose a deemed repatriation tax; repeal special interest tax provisions for businesses and certain other provisions; repeal itemized deductions other than those for charitable contributions and mortgage interest; repeal head of household filing status; repeal personal exemptions for taxpayer and dependents; and tax distributions from large pas-through entities as qualified dividends. 

July 12, 2017