Federal Tax Plan

This page includes our analyses of the various versions of the federal tax plan proposed in Fall and Winter 2017.

Federal Tax Plans Would Drive Another Economic Wedge Between White Families and Families of Color: (December 5, 2017): A growing level of resources is concentrated in a very small number of hands, a trend that would be exacerbated if Congress passes one of the federal tax bills currently under consideration. Both versions of the bill expand the already-significant ability of extremely rich families to keep wealth within their own circles, a move that would contribute to the widening chasm between the very wealthiest and everybody else and would place additional obstacles to economic security in the path of families of color.

The Different Federal Tax Proposals are not all that Different. Here’s What They Have in Common. (November 27, 2017): Republican leaders in the U.S. House of Representatives and in the Senate have put forth their own versions of the changes they would like to see made to federal income taxes. While there are different provisions included in the two plans, they are more alike than different.

Revised Senate Plan Raises Taxes for Many Wisconsinites (November 21, 2017): When you look beyond the initial effects of the revised plan, low- and middle-income taxpayers will generally be paying more taxes and will have less access to affordable health care. However, the wealthy and most powerful will enjoy huge benefits. Wisconsin is one of 19 states expected to have a net increase in taxes.

House Bill’s Increase in Child Tax Credit Excludes Many Children in Working Families (November 14, 2017): Congressional leaders misleadingly argue that their tax cut plan would benefit working families because it increases the maximum value of the federal Child Tax Credit (CTC). However, that part of the House bill completely excludes 159,000 children in Wisconsin whose parents work in low-paying jobs.

More than a Quarter of a Million Wisconsin Taxpayers Would Have a Tax Hike under Senate Plan (November 13, 2017): Nearly 300,000 Wisconsin taxpayers would pay more in federal income taxes under a plan released on November 9 by Republican leaders in the U.S. Senate. That means about nine percent of all taxpayers in the state, or 1 out of 11 taxpayers – would pay more under the Senate plan. And if you consider who will wind up paying for the deficit-financed tax cuts in the long run, the number of low- and middle-income Wisconsin residents who would be worse off under the bill is likely to swell.

What the Details of the Trump-GOP House Tax Plan Mean for Wisconsin Taxpayers (November 9, 2017): New details about the tax plan being advanced by President Trump and Republican leaders in the U.S. House of Representatives show that the plan would mostly benefit the extremely rich, despite initial claims by proponents that it would be targeted at members of the middle class.

The Top 10 Most Surprising Things in the House Tax Plan (November 8, 2017)

The Republican Tax Plan Remains a Huge Windfall for the Wealthy (November 2, 2017): The tax cut plan unveiled today by House Republicans would provide a massive windfall to corporations and the wealthiest Americans, while hurting some taxpayers and substantially increasing the federal deficit.