Update: 7% of Americans would get a tax hike under GOP plan
Under the GOP House tax plan, 7% of Americans would see a tax hike next year and 25% would pay more by 2027, according to the latest analysis by the Tax Policy Center. The nonpartisan group retracted its initial projections that 12% and 28% of Americans would receive tax hikes in 2018 and 2027 respectively due to an error.
Why it matters: Fewer Americans will see a tax hike than the original analysis forecasted, but there will still be some middle-class Americans, and some one-percenters, who could end up paying higher taxes under the new plan. Every income level would, on average, receive a cut. The average cut would be $1,200, with most high earners receiving significantly more.