News

Report: Middle class Americans to pay more in income taxes under plan being debated

Posted: Updated:
WASHINGTON, D.C. -

A new report says millions of middle class Americans will pay more in income taxes under the plan being debated in the Senate.

The 'non-partisan' Joint Committee on Taxation says some 14 million households making less than $200,000 a year would see an immediate increase of up to $500.

The report says a total of 21 million homes would be paying more by 2025.

The biggest factors in the projected increase are the elimination of deductions for state and local property and income taxes.   

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