T20-0213 - Implement a Universal Earned Income Tax Credit (UEITC), Provide a Universal Basic Income (UBI), and Institute an 11 Percent Broad Base VAT, by Expanded Cash Income Percentile, 2023
Distributional estimates by expanded cash income percentile for calendar year 2023 of a proposal that institutes a Universal Earned Income Tax Credit (UEITC) (described here), provides a Universal Basic Income (UBI), and adds an 11 percent broad base Value Added Tax (VAT). The baseline is the law in place for 2023 as of January 1st, 2018. These proposals would begin phasing in on January 1st, 2020, and would be fully phased in on January 1st, 2023. These estimates are based on an economic forecast that does not include the potential effects of the economic distruption caused by COVID-19.