| Effects of the 2000 House Democratic Marriage Penalty Relief Bill | Compare: House GOP Plan | ||||||||
| Income Group ($-000) | # of joint returns (000) | % of joint returns | Tax Cuts, $-billions | Average Tax Cuts | % of Total Tax Cuts | ||||
| <$10K | 1,357 | 2.5% | $ –0.0 | $ –13 | 0.3% | ||||
| $10-20K | 4,566 | 8.4% | –0.6 | –125 | 8.8% | ||||
| $20-30K | 6,304 | 11.5% | –1.4 | –216 | 20.9% | ||||
| $30-40K | 6,227 | 11.4% | –1.1 | –171 | 16.3% | ||||
| $40-50K | 6,286 | 11.5% | –0.9 | –148 | 14.3% | ||||
| $50-75K | 13,274 | 24.3% | –1.6 | –124 | 25.2% | ||||
| $75-100K | 7,184 | 13.1% | –0.6 | –85 | 9.4% | ||||
| $100-200K | 6,893 | 12.6% | –0.3 | –38 | 4.0% | ||||
| $200K+ | 2,349 | 4.3% | –0.1 | –24 | 0.9% | ||||
| ALL | 54,632 | 100.0% | $ –6.5 | $ –119 | 100.0% | ||||
| <$50K | 24,740 | 45.3% | –3.9 | –160 | 60.6% | ||||
| $75K + | 16,426 | 30.1% | –0.9 | –56 | 14.2% | ||||
| Figures show the effects of the bill fully phased in at 1999 income levels. The changes in the standard deduction and earned-income tax credit for couples would take effect in calendar 2001 and 2002. Totals exclude $0.2 billion in tax cuts for married persons filing separate returns. Source: Institute on Taxation & Economic Policy Tax Model, 2/9/00. |
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