17-Feb-12
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Click on PDF or Excel link above for additional tables containing more detail and breakdowns by filing status and demographic groups.
Table T12-0029
H.R. 3630: The Middle Class Tax Relief and Job Creation Act of 2012
Baseline: Current Law (Including Temporary Payroll Tax Cut Continuation Act of 2011)
Distribution of Federal Tax Change by Cash Income Level, 2012 1
Summary Table
Cash Income Level
(thousands of 2011
2
dollars)
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units with Tax Increase or Cut 3
With Tax Cut
Pct of Tax
Avg Tax Cut
Units
58.3
54.3
73.7
78.9
82.6
83.4
86.6
89.5
90.5
87.6
87.4
74.0
-100
-218
-347
-480
-609
-833
-1,129
-1,716
-2,124
-2,254
-2,290
-770
With Tax Increase
Pct of Tax
Avg Tax
Units
Increase
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
Percent
Change in
After-Tax
Income 4
Share of
Total
Federal Tax
Change
Average
Federal Tax
Change ($)
1.0
0.8
1.1
1.2
1.3
1.3
1.4
1.4
0.9
0.4
0.1
1.0
1.5
3.6
5.7
7.0
7.4
14.9
14.4
30.5
11.9
2.1
1.1
100.0
-58
-118
-256
-379
-503
-695
-978
-1,535
-1,922
-1,974
-2,001
-570
Average Federal Tax Rate5
Change (%
Points)
Under the
Proposal
-1.0
-0.8
-1.0
-1.1
-1.1
-1.1
-1.1
-1.1
-0.6
-0.3
-0.1
-0.8
1.2
1.0
5.9
10.2
12.9
15.5
17.8
21.7
25.0
24.9
29.0
19.5
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-3).
Number of AMT Taxpayers (millions). Baseline: 31.2
Proposal: 31.2
* Less than 0.05
** Insufficient data
(1) Calendar year. Baseline is current law with the Temporary Payroll Tax Cut Continuation Act of 2011. Proposal is H.R. 3630 which includes a full year extension of the payroll
tax holiday where the OASDI tax rate is reduced two percentage points to 4.2% for the entire 2012 calendar year. Table captures effects of the additional ten month extension.
For a description of TPC's current law and current policy baselines, see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash
income.
17-Feb-12
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T12-0029
H.R. 3630: The Middle Class Tax Relief and Job Creation Act of 2012
Baseline: Current Law (Including Temporary Payroll Tax Cut Continuation Act of 2011)
Distribution of Federal Tax Change by Cash Income Level, 2012 1
Detail Table
Cash Income Level
(thousands of 2011
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent of Tax Units 3
With Tax Cut
With Tax
Increase
58.3
54.3
73.7
78.9
82.6
83.4
86.6
89.5
90.5
87.6
87.4
74.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Percent Change
in After-Tax
Income 4
1.0
0.8
1.1
1.2
1.3
1.3
1.4
1.4
0.9
0.4
0.1
1.0
Share of Total
Federal Tax
Change
1.5
3.6
5.7
7.0
7.4
14.9
14.4
30.5
11.9
2.1
1.1
100.0
Average Federal Tax Change
Dollars
Percent
-58
-118
-256
-379
-503
-695
-978
-1,535
-1,922
-1,974
-2,001
-570
-45.0
-43.4
-14.7
-9.6
-8.0
-6.6
-5.9
-4.7
-2.5
-1.1
-0.2
-4.0
Share of Federal Taxes
Change (%
Points)
-0.1
-0.1
-0.2
-0.2
-0.2
-0.2
-0.2
-0.2
0.3
0.2
0.8
0.0
Under the
Proposal
0.1
0.2
1.4
2.8
3.6
8.8
9.5
25.9
19.4
7.7
20.5
100.0
Average Federal Tax Rate5
Change (%
Points)
-1.0
-0.8
-1.0
-1.1
-1.1
-1.1
-1.1
-1.1
-0.6
-0.3
-0.1
-0.8
Under the
Proposal
1.2
1.0
5.9
10.2
12.9
15.5
17.8
21.7
25.0
24.9
29.0
19.5
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2012 1
Cash Income Level
(thousands of 2011
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Number
(thousands)
Percent of
Total
23,654
28,341
20,820
17,491
13,844
20,187
13,838
18,707
5,808
1,003
503
165,201
14.3
17.2
12.6
10.6
8.4
12.2
8.4
11.3
3.5
0.6
0.3
100.0
Pre-Tax Income
Average
(dollars)
6,045
15,232
25,240
35,253
45,338
63,169
87,271
143,999
301,476
700,511
3,175,826
69,939
Percent of
Total
1.2
3.7
4.6
5.3
5.4
11.0
10.5
23.3
15.2
6.1
13.8
100.0
Federal Tax Burden
Average
(dollars)
130
272
1,742
3,964
6,331
10,507
16,524
32,804
77,301
176,045
921,783
14,224
Percent of
Total
0.1
0.3
1.5
3.0
3.7
9.0
9.7
26.1
19.1
7.5
19.7
100.0
After-Tax Income 4
Average
(dollars)
5,915
14,959
23,498
31,290
39,007
52,662
70,747
111,195
224,175
524,466
2,254,043
55,715
Percent of
Total
1.5
4.6
5.3
6.0
5.9
11.6
10.6
22.6
14.2
5.7
12.3
100.0
Average
Federal Tax
Rate 5
2.1
1.8
6.9
11.2
14.0
16.6
18.9
22.8
25.6
25.1
29.0
20.3
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-3).
Number of AMT Taxpayers (millions). Baseline: 31.2
Proposal: 31.2
* Less than 0.05
(1) Calendar year. Baseline is current law with the Temporary Payroll Tax Cut Continuation Act of 2011. Proposal is H.R. 3630 which includes a full year extension of the payroll tax holiday where the OASDI tax
rate is reduced two percentage points to 4.2% for the entire 2012 calendar year. Table captures effects of the additional ten month extension. For a description of TPC's current law and current policy
baselines, see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
17-Feb-12
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T12-0029
H.R. 3630: The Middle Class Tax Relief and Job Creation Act of 2012
Baseline: Current Law (Including Temporary Payroll Tax Cut Continuation Act of 2011)
Distribution of Federal Tax Change by Cash Income Level, 2012 1
Detail Table - Single Tax Units
Cash Income Level
(thousands of 2011
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent of Tax Units 3
With Tax Cut
With Tax
Increase
54.7
42.7
64.7
72.6
81.6
79.5
81.3
76.8
71.1
67.2
66.0
61.4
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Percent Change
in After-Tax
Income 4
1.0
0.6
1.0
1.2
1.4
1.4
1.4
1.1
0.5
0.2
0.1
1.0
Share of Total
Federal Tax
Change
4.1
7.4
11.1
13.6
13.1
21.1
12.4
12.9
3.3
0.6
0.3
100.0
Average Federal Tax Change
Dollars
Percent
-53
-90
-217
-349
-523
-687
-948
-1,164
-1,099
-984
-1,031
-297
-15.7
-10.7
-7.8
-6.7
-6.2
-5.3
-4.8
-3.5
-1.4
-0.6
-0.1
-4.4
Share of Federal Taxes
Change (%
Points)
-0.1
-0.2
-0.2
-0.2
-0.2
-0.2
-0.1
0.1
0.3
0.2
0.6
0.0
Under the
Proposal
1.0
2.8
6.0
8.6
9.0
17.1
11.2
16.2
10.6
4.5
12.9
100.0
Average Federal Tax Rate5
Change (%
Points)
-0.9
-0.6
-0.9
-1.0
-1.2
-1.1
-1.1
-0.8
-0.4
-0.2
0.0
-0.8
Under the
Proposal
4.8
5.0
10.2
13.8
17.4
19.6
21.8
22.9
25.3
25.3
32.2
17.9
Baseline Distribution of Income and Federal Taxes
1
by Cash Income Level, 2012
Cash Income Level
(thousands of 2011
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Number
(thousands)
18,677
19,704
12,248
9,316
6,007
7,366
3,136
2,656
714
138
67
80,620
Percent of
Total
23.2
24.4
15.2
11.6
7.5
9.1
3.9
3.3
0.9
0.2
0.1
100.0
Pre-Tax Income
Average (dollars)
5,934
15,064
25,068
35,203
45,161
62,176
86,024
139,722
307,687
678,159
3,141,069
36,344
Percent of
Total
3.8
10.1
10.5
11.2
9.3
15.6
9.2
12.7
7.5
3.2
7.2
100.0
Federal Tax Burden
Average (dollars)
339
839
2,771
5,194
8,370
12,868
19,723
33,097
79,007
172,628
1,011,219
6,800
Percent of
Total
1.2
3.0
6.2
8.8
9.2
17.3
11.3
16.0
10.3
4.3
12.3
100.0
After-Tax Income 4
Average (dollars)
5,594
14,226
22,297
30,009
36,791
49,308
66,301
106,625
228,679
505,531
2,129,851
29,544
Percent of
Total
4.4
11.8
11.5
11.7
9.3
15.3
8.7
11.9
6.9
2.9
6.0
100.0
Average
Federal Tax
Rate 5
5.7
5.6
11.1
14.8
18.5
20.7
22.9
23.7
25.7
25.5
32.2
18.7
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-3).
* Less than 0.05
(1) Calendar year. Baseline is current law with the Temporary Payroll Tax Cut Continuation Act of 2011. Proposal is H.R. 3630 which includes a full year extension of the payroll tax holiday where the OASDI tax
rate is reduced two percentage points to 4.2% for the entire 2012 calendar year. Table captures effects of the additional ten month extension. For a description of TPC's current law and current policy baselines,
see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
17-Feb-12
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T12-0029
H.R. 3630: The Middle Class Tax Relief and Job Creation Act of 2012
Baseline: Current Law (Including Temporary Payroll Tax Cut Continuation Act of 2011)
Distribution of Federal Tax Change by Cash Income Level, 2012 1
Detail Table - Married Tax Units Filing Jointly
Cash Income Level
(thousands of 2011
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent of Tax Units 3
With Tax Cut
With Tax
Increase
61.9
76.5
79.3
79.6
78.9
84.0
87.8
91.4
93.4
90.8
91.2
85.5
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Percent Change
in After-Tax
Income 4
1.4
1.1
1.1
1.1
1.0
1.2
1.3
1.4
0.9
0.4
0.1
1.0
Share of Total
Federal Tax
Change
0.2
0.9
1.6
2.5
3.7
11.2
15.6
42.1
17.4
3.1
1.6
100.0
Average Federal Tax Change
Dollars
Percent
-78
-185
-285
-369
-432
-665
-974
-1,603
-2,058
-2,160
-2,191
-1,017
53.9
48.4
-72.4
-17.5
-11.3
-7.8
-6.4
-4.9
-2.7
-1.2
-0.3
-3.5
Share of Federal Taxes
Change (%
Points)
0.0
0.0
-0.1
-0.1
-0.1
-0.2
-0.3
-0.4
0.2
0.2
0.8
0.0
Under the
Proposal
0.0
-0.1
0.0
0.4
1.1
4.8
8.4
29.9
23.2
9.1
23.1
100.0
Average Federal Tax Rate5
Change (%
Points)
-1.4
-1.2
-1.1
-1.0
-1.0
-1.0
-1.1
-1.1
-0.7
-0.3
-0.1
-0.8
Under the
Proposal
-4.1
-3.6
0.4
4.9
7.5
12.3
16.2
21.5
25.0
24.8
28.4
21.2
Baseline Distribution of Income and Federal Taxes
1
by Cash Income Level, 2012
Cash Income Level
(thousands of 2011
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Number
(thousands)
1,412
2,711
3,358
3,936
4,904
9,775
9,326
15,280
4,920
831
416
57,183
Percent of
Total
2.5
4.7
5.9
6.9
8.6
17.1
16.3
26.7
8.6
1.5
0.7
100.0
Pre-Tax Income
Average (dollars)
5,472
15,812
25,426
35,482
45,674
64,093
87,934
145,189
300,780
704,723
3,104,064
131,340
Percent of
Total
0.1
0.6
1.1
1.9
3.0
8.3
10.9
29.5
19.7
7.8
17.2
100.0
Federal Tax Burden
Average (dollars)
-145
-382
394
2,109
3,845
8,533
15,224
32,770
77,126
176,793
884,273
28,839
Percent of
Total
0.0
-0.1
0.1
0.5
1.1
5.1
8.6
30.4
23.0
8.9
22.3
100.0
After-Tax Income 4
Average (dollars)
5,617
16,194
25,033
33,372
41,830
55,561
72,710
112,418
223,654
527,931
2,219,791
102,500
Percent of
Total
0.1
0.8
1.4
2.2
3.5
9.3
11.6
29.3
18.8
7.5
15.8
100.0
Average
Federal Tax
Rate 5
-2.7
-2.4
1.6
5.9
8.4
13.3
17.3
22.6
25.6
25.1
28.5
22.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-3).
* Less than 0.05
(1) Calendar year. Baseline is current law with the Temporary Payroll Tax Cut Continuation Act of 2011. Proposal is H.R. 3630 which includes a full year extension of the payroll tax holiday where the OASDI tax
rate is reduced two percentage points to 4.2% for the entire 2012 calendar year. Table captures effects of the additional ten month extension. For a description of TPC's current law and current policy baselines,
see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
17-Feb-12
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T12-0029
H.R. 3630: The Middle Class Tax Relief and Job Creation Act of 2012
Baseline: Current Law (Including Temporary Payroll Tax Cut Continuation Act of 2011)
Distribution of Federal Tax Change by Cash Income Level, 2012 1
Detail Table - Head of Household Tax Units
Cash Income Level
(thousands of 2011
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent of Tax Units 3
With Tax Cut
With Tax
Increase
75.6
82.4
91.0
92.5
91.0
92.2
90.9
95.8
92.9
93.5
82.9
87.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Percent Change
in After-Tax
Income 4
1.0
1.1
1.3
1.4
1.5
1.6
1.6
1.5
0.7
0.3
0.1
1.3
Share of Total
Federal Tax
Change
2.5
9.5
14.9
16.0
14.0
20.0
11.8
9.0
1.9
0.3
0.1
100.0
Average Federal Tax Change
Dollars
-78
-180
-330
-454
-584
-816
-1,089
-1,492
-1,569
-1,422
-1,367
-431
Percent
8.3
12.1
282.6
-17.6
-9.8
-7.6
-6.1
-4.7
-2.1
-0.9
-0.2
-10.2
Share of Federal Taxes
Change (%
Points)
-0.6
-2.0
-1.8
-0.8
0.1
0.8
0.9
1.2
0.8
0.4
1.0
0.0
Under the
Proposal
-3.7
-10.0
-2.3
8.5
14.6
27.5
20.6
20.7
10.1
4.1
9.8
100.0
Average Federal Tax Rate5
Change (%
Points)
-1.1
-1.2
-1.3
-1.3
-1.3
-1.3
-1.3
-1.1
-0.5
-0.2
-0.1
-1.2
Under the
Proposal
-14.8
-10.8
-1.8
6.0
11.9
15.8
19.4
22.5
24.5
24.0
29.4
10.3
Baseline Distribution of Income and Federal Taxes
1
by Cash Income Level, 2012
Cash Income Level
(thousands of 2011
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Number
(thousands)
3,397
5,620
4,820
3,780
2,556
2,617
1,162
643
131
24
10
24,826
Percent of
Total
13.7
22.6
19.4
15.2
10.3
10.5
4.7
2.6
0.5
0.1
0.0
100.0
Pre-Tax Income
Average (dollars)
6,878
15,507
25,513
35,084
45,194
62,439
85,840
134,826
294,742
678,200
3,014,509
36,919
Percent of
Total
2.6
9.5
13.4
14.5
12.6
17.8
10.9
9.5
4.2
1.8
3.4
100.0
Federal Tax Burden
Average (dollars)
-937
-1,496
-117
2,574
5,945
10,706
17,723
31,803
73,823
164,344
886,194
4,216
Percent of
Total
-3.0
-8.0
-0.5
9.3
14.5
26.8
19.7
19.5
9.2
3.7
8.8
100.0
After-Tax Income 4
Average (dollars)
7,815
17,003
25,629
32,510
39,249
51,733
68,118
103,023
220,919
513,857
2,128,314
32,703
Percent of
Total
3.3
11.8
15.2
15.1
12.4
16.7
9.8
8.2
3.6
1.5
2.7
100.0
Average
Federal Tax
Rate 5
-13.6
-9.7
-0.5
7.3
13.2
17.2
20.7
23.6
25.1
24.2
29.4
11.4
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-3).
* Less than 0.05
(1) Calendar year. Baseline is current law with the Temporary Payroll Tax Cut Continuation Act of 2011. Proposal is H.R. 3630 which includes a full year extension of the payroll tax holiday where the OASDI tax
rate is reduced two percentage points to 4.2% for the entire 2012 calendar year. Table captures effects of the additional ten month extension. For a description of TPC's current law and current policy baselines,
see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
17-Feb-12
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T12-0029
H.R. 3630: The Middle Class Tax Relief and Job Creation Act of 2012
Baseline: Current Law (Including Temporary Payroll Tax Cut Continuation Act of 2011)
Distribution of Federal Tax Change by Cash Income Level, 2012 1
Detail Table - Tax Units with Children
Cash Income Level
(thousands of 2011
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent of Tax Units 3
With Tax Cut
With Tax
Increase
75.2
92.6
96.2
95.9
94.7
95.2
97.4
98.3
98.6
98.3
96.0
94.3
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Percent Change
in After-Tax
Income 4
1.1
1.1
1.3
1.4
1.5
1.6
1.7
1.7
1.1
0.5
0.1
1.3
Share of Total
Federal Tax
Change
0.7
2.8
4.6
5.5
5.7
12.9
14.8
35.2
14.2
2.4
1.1
100.0
Average Federal Tax Change
Dollars
Percent
-84
-207
-354
-481
-608
-866
-1,202
-1,856
-2,327
-2,492
-2,504
-910
6.8
8.6
35.8
-26.9
-12.6
-8.9
-7.4
-5.4
-2.9
-1.3
-0.3
-4.8
Share of Federal Taxes
Change (%
Points)
-0.1
-0.2
-0.3
-0.2
-0.2
-0.3
-0.3
-0.2
0.5
0.3
0.9
0.0
Under the
Proposal
-0.6
-1.8
-0.9
0.8
2.0
6.7
9.3
30.8
23.8
9.0
20.8
100.0
Average Federal Tax Rate5
Change (%
Points)
-1.3
-1.3
-1.4
-1.4
-1.3
-1.4
-1.4
-1.3
-0.8
-0.4
-0.1
-1.0
Under the
Proposal
-20.5
-16.6
-5.3
3.7
9.3
14.0
17.2
22.2
25.9
26.1
29.6
19.7
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2012 1
Cash Income Level
(thousands of 2011
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Number
(thousands)
Percent of
Total
3,846
5,948
5,713
5,081
4,169
6,587
5,463
8,400
2,702
430
199
48,707
7.9
12.2
11.7
10.4
8.6
13.5
11.2
17.3
5.6
0.9
0.4
100.0
Pre-Tax Income
Average
(dollars)
6,428
15,742
25,506
35,137
45,275
63,896
87,562
145,248
300,076
708,894
3,113,066
91,956
Percent of
Total
0.6
2.1
3.3
4.0
4.2
9.4
10.7
27.2
18.1
6.8
13.8
100.0
Federal Tax Burden
Average
(dollars)
-1,234
-2,408
-990
1,790
4,815
9,778
16,226
34,108
79,970
187,596
924,690
18,996
Percent of
Total
-0.5
-1.6
-0.6
1.0
2.2
7.0
9.6
31.0
23.4
8.7
19.9
100.0
After-Tax Income 4
Average
(dollars)
7,662
18,149
26,496
33,348
40,460
54,118
71,336
111,140
220,106
521,299
2,188,376
72,959
Percent of
Total
0.8
3.0
4.3
4.8
4.8
10.0
11.0
26.3
16.7
6.3
12.3
100.0
Average
Federal Tax
Rate 5
-19.2
-15.3
-3.9
5.1
10.6
15.3
18.5
23.5
26.7
26.5
29.7
20.7
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-3).
* Less than 0.05
Note: Tax units with children are those claiming an exemption for children at home or away from home.
(1) Calendar year. Baseline is current law with the Temporary Payroll Tax Cut Continuation Act of 2011. Proposal is H.R. 3630 which includes a full year extension of the payroll tax holiday where the OASDI tax
rate is reduced two percentage points to 4.2% for the entire 2012 calendar year. Table captures effects of the additional ten month extension. For a description of TPC's current law and current policy
baselines, see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.
17-Feb-12
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T12-0029
H.R. 3630: The Middle Class Tax Relief and Job Creation Act of 2012
Baseline: Current Law (Including Temporary Payroll Tax Cut Continuation Act of 2011)
Distribution of Federal Tax Change by Cash Income Level, 2012 1
Detail Table - Elderly Tax Units
Cash Income Level
(thousands of 2011
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Percent of Tax Units 3
With Tax Cut
With Tax
Increase
4.0
5.2
20.6
31.3
41.8
49.0
51.4
54.4
62.5
56.8
65.6
29.6
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
Percent Change
in After-Tax
Income 4
0.0
0.0
0.1
0.2
0.3
0.3
0.4
0.4
0.3
0.1
0.0
0.3
Share of Total
Federal Tax
Change
0.1
0.8
2.3
4.3
6.2
16.9
15.5
32.2
16.1
3.3
2.3
100.0
Average Federal Tax Change
Dollars
-2
-5
-24
-60
-110
-186
-271
-469
-716
-748
-982
-144
Percent
-4.6
-3.9
-4.1
-3.7
-4.3
-3.2
-2.4
-1.8
-1.0
-0.5
-0.1
-1.3
Share of Federal Taxes
Change (%
Points)
0.0
0.0
0.0
0.0
-0.1
-0.1
-0.1
-0.1
0.1
0.1
0.3
0.0
Under the
Proposal
0.0
0.3
0.7
1.5
1.8
6.8
8.4
22.5
20.4
9.2
28.5
100.0
Average Federal Tax Rate5
Change (%
Points)
0.0
0.0
-0.1
-0.2
-0.2
-0.3
-0.3
-0.3
-0.2
-0.1
0.0
-0.2
Under the
Proposal
0.7
0.8
2.3
4.4
5.3
9.2
12.8
17.5
22.7
23.3
29.3
15.9
Baseline Distribution of Income and Federal Taxes
by Cash Income Level, 2012 1
Cash Income Level
(thousands of 2011
dollars) 2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units 3
Number
(thousands)
Percent of
Total
3,154
8,698
4,924
3,727
2,930
4,733
2,996
3,598
1,179
229
122
36,319
8.7
24.0
13.6
10.3
8.1
13.0
8.3
9.9
3.3
0.6
0.3
100.0
Pre-Tax Income
Average
(dollars)
6,651
14,806
24,706
35,197
45,938
62,567
87,118
142,540
304,739
685,254
3,174,793
69,121
Percent of
Total
0.8
5.1
4.9
5.2
5.4
11.8
10.4
20.4
14.3
6.3
15.5
100.0
Federal Tax Burden
Average
(dollars)
50
119
595
1,608
2,556
5,917
11,436
25,424
69,818
160,083
930,423
11,131
Percent of
Total
0.0
0.3
0.7
1.5
1.9
6.9
8.5
22.6
20.4
9.1
28.1
100.0
After-Tax Income 4
Average
(dollars)
6,600
14,687
24,111
33,589
43,382
56,650
75,682
117,116
234,922
525,171
2,244,370
57,991
Percent of
Total
1.0
6.1
5.6
5.9
6.0
12.7
10.8
20.0
13.2
5.7
13.0
100.0
Average
Federal Tax
Rate 5
0.8
0.8
2.4
4.6
5.6
9.5
13.1
17.8
22.9
23.4
29.3
16.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0411-3).
* Less than 0.05
Note: Elderly tax units are those with either head or spouse (if filing jointly) age 65 or older.
(1) Calendar year. Baseline is current law with the Temporary Payroll Tax Cut Continuation Act of 2011. Proposal is H.R. 3630 which includes a full year extension of the payroll tax holiday where the OASDI tax
rate is reduced two percentage points to 4.2% for the entire 2012 calendar year. Table captures effects of the additional ten month extension. For a description of TPC's current law and current policy
baselines, see
http://www.taxpolicycenter.org/T11-0270
(2) Tax units with negative cash income are excluded from the lowest income class but are included in the totals. For a description of cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes both filing and non-filing units but excludes those that are dependents of other tax units.
(4) After-tax income is cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, and the estate tax) as a percentage of average cash income.