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Brief

Analysis of the Protecting Family and Small Business Tax Cuts Act of 2018

Jeffrey Rohaly, Joseph Rosenberg, Benjamin R. Page, Daniel Berger
September 12, 2018
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Abstract

The Protecting Family and Small Business Tax Cuts Act of 2018 extends major individual income and estate tax provisions from 2017’s Tax Cuts and Jobs Act that are currently scheduled to expire at the end of 2025. The bill would reduce federal revenues by $631 billion within the budget window (fiscal years 2019–28) and by almost $3.2 trillion over the subsequent decade (fiscal years 2029–38). In 2026, taxes would decline on average across all income groups, but higher income households would generally receive larger average tax cuts as a percentage of after-tax income. About two-thirds of taxpayers would receive a tax cut and about 9 percent would face a tax increase.

Research Area

Campaigns, Proposals, and Reforms Current legislative proposals Individual Taxes Child tax credit (CTC)/Child and dependent care tax credit (CDCTC) Estate, gift, and inheritance taxes Income tax (individual) Tax rates
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Meet the Experts

  • Jeffrey Rohaly
    Principal Research Associate
  • Joseph Rosenberg
    Senior Research Associate
  • Benjamin R. Page
    Senior Fellow
  • Daniel Berger
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