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Research report

An Analysis of the House GOP Tax Plan

James R. Nunns, Leonard E. Burman, Jeffrey Rohaly, Joseph Rosenberg, Benjamin R. Page
September 16, 2016
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Abstract

This paper analyzes the House GOP tax reform blueprint, which would significantly reduce marginal tax rates, increase standard deduction amounts, repeal personal exemptions and most itemized deductions, allow businesses to expense new investment, and not allow businesses to deduct net interest expenses. Taxes would drop at all income levels in 2017, but most savings would go to the highest-income households. Federal revenues would fall by $3.1 trillion over the first decade before accounting for added interest costs and macroeconomic effects. Including both those factors, the federal debt would rise by at least $3.0 trillion over the first decade and by least $6.6 trillion over the second ten years.

Research Area

Campaigns, Proposals, and Reforms Fundamental reform proposals
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Meet the Experts

  • James R. Nunns
    Urban Institute Associate
  • Leonard E. Burman
    Institute Fellow
  • Jeffrey Rohaly
    Principal Research Associate
  • Joseph Rosenberg
    Senior Research Associate
  • Benjamin R. Page
    Senior Fellow
Research report

New Evidence on The Effect of The TCJA On the Housing Market

Robert McClelland, Livia Mucciolo, Safia Sayed
March 30, 2022
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