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The House bill's tax changes are higher for the wealthy. Photo: J. Scott Applewhite/AP

Almost half of net federal tax cuts under the committee-passed House tax bill would go to the top 1 percent of earners by 2027, although all income groups would see an average tax decrease under the bill, according to an analysis by the Tax Policy Center. The House plans to vote on the bill this week.

Be smart: You're going to hear different narratives over and over again this week. Democrats are going to say this bill is a giveaway to the wealthy, Republicans are going to say everyone is better off under the plan, and conservative wonks are going to (quietly) argue that cutting taxes on the wealthy and businesses is the way to boost the economy, benefiting everyone.

The impact:

While taxes on net decrease under the bill for each income group, some people's taxes will go up and some will go down within each income group. In 2027, at least 24 percent of taxpayers would pay higher taxes.

  • Lowest quintile: pays $10 less in federal taxes
  • Second quintile: pays $50 less in federal taxes
  • Middle quintile: pays $360 less in federal taxes
  • Fourth quintile: pays $840 less in federal taxes
  • Top quintile: pays $4,590 less in federal taxes
  • Top 1 percent: pays $62,300 less in federal taxes
  • Top .1 percent: pays $320,640 less in federal taxes

Go deeper

Updated 16 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: WHO: AstraZeneca vaccine must be evaluated on "more than a press release."
  2. Politics: Supreme Court backs religious groups on New York COVID restrictions.
  3. World: Thailand, Philippines sign deal with AstraZeneca for vaccine.
  4. Economy: Safety nets to disappear in December Black Friday shopping across the U.S., in photosAmazon hires 1,400 workers a day throughout pandemic.
  5. Education: National standardized tests delayed until 2022.
1 hour ago - Health

WHO: AstraZeneca vaccine must be evaluated on "more than a press release"

A medical syringe and vial with fake coronavirus vaccine in front of the World Health Organization (WHO) logo. Photo Illustration: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

Top scientists at the World Health Organization on Friday called for more detailed information on a coronavirus vaccine developed by AstraZeneca and the University of Oxford.

Why it matters: Oxford and AstraZeneca have said the vaccine was 90% effective in people who got a half dose followed by a full dose, and 62% effective in people who got two full doses. AstraZeneca has since acknowledged that the smaller dose received by some participants was the result of an error by a contractor, per the New York Times.

Court rejects Trump campaign's appeal in Pennsylvania case

Photo: Sarah Silbiger for The Washington Post via Getty Images

A federal appeals court on Friday unanimously rejected the Trump campaign's emergency appeal seeking to file a new lawsuit against Pennsylvania's election results, writing in a blistering ruling that the campaign's "claims have no merit."

Why it matters: It's another devastating blow to President Trump's sinking efforts to overturn the results of the election. Pennsylvania, which President-elect Joe Biden won by more than 80,000 votes, certified its results last week and is expected to award 20 electoral votes to Biden on Dec. 12.