The GOP Tax Bill’s Estimated Effects In 2018

In 2018, the Republican tax overhaul would give all of these income groups a tax cut, on average. But both by percentages and total dollars, the benefits would be far greater for higher-income households. Households making $1 million or more per year would get an average tax cut of $69,660, a 3.3 percent boost in after-tax income.

Average benefit from tax bill

0$20,000$40,000$60,000$80,000$10$50$180$360$570$870$1,310$2,260$6,560$21,240$69,660
bulletLess than $10K
bullet$10K-$20K
bullet$20K-$30K
bullet$30K-$40K
bullet$40K-$50K
bullet$50K-$75K
bullet$75K-$100K
bullet$100K-$200K
bullet$200K-$500K
bullet$500K-$1M
bulletMore than $1M

Percent change in after-tax income

01.0%2.0%3.0%4.0%5.0%0.1%0.3%0.7%1.1%1.4%1.6%1.8%2.0%2.9%4.3%3.3%
bulletLess than $10K
bullet$10K-$20K
bullet$20K-$30K
bullet$30K-$40K
bullet$40K-$50K
bullet$50K-$75K
bullet$75K-$100K
bullet$100K-$200K
bullet$200K-$500K
bullet$500K-$1M
bulletMore than $1M