9-Dec-15
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 T15-0210
$2500 Extra Refundable CTC (no phaseout) Limited to Net Income and Payroll Taxes
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Level, 2016 ¹
Summary Table
Expanded Cash Income
Level (thousands of 2015
dollars)
2
Less than 10
10-20
20-30
30-40
40-50
50-75
75-100
100-200
200-500
500-1,000
More than 1,000
All
Tax Units with Tax Increase or Cut 3
With Tax Cut
Pct of Tax Units
0.5
1.2
5.4
12.8
18.4
24.0
29.0
35.8
34.6
41.3
39.6
17.8
Avg Tax Cut
-436
-822
-1,251
-1,864
-2,369
-3,241
-3,997
-4,312
-4,495
-4,608
-4,958
-3,611
With Tax Increase
Avg Tax
Pct of Tax Units
Increase
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0
0
0
0
0
0
0
0
0
0
0
0
Percent Change
in After-Tax
Income 4
0.0
0.1
0.3
0.7
1.1
1.4
1.6
1.4
0.7
0.4
0.1
0.9
Share of Total
Federal Tax
Change
0.0
0.2
1.3
3.5
5.2
16.7
16.6
38.0
14.6
2.3
1.3
100.0
Average
Federal Tax
Change ($)
-2
-10
-68
-238
-435
-778
-1,159
-1,543
-1,557
-1,905
-1,964
-642
5
Average Federal Tax Rate
Change (%
Points)
0.0
-0.1
-0.3
-0.7
-1.0
-1.2
-1.3
-1.1
-0.5
-0.3
-0.1
-0.7
Under the
Proposal
7.6
3.4
5.2
8.2
10.5
12.5
15.1
18.0
22.9
28.3
34.7
19.7
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
Number of AMT Taxpayers (millions). Baseline: 4.3
Proposal: 4.3
* Less than 0.05
** Insufficient data
(1) Baseline is current law. Proposal would provide up to $2500 extra refundable CTC. The credit is not subject to phaseout and is limited to net income and payroll taxes.
We assume people who do not file tax returns will continue to not file tax returns. For a description of TPC's current law baseline, see:
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective income class
but are included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(4) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate taxes; and excise taxes.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash
income.
9-Dec-15
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T15-0210
$2500 Extra Refundable CTC (no phaseout) Limited to Net Income and Payroll Taxes
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Level, 2016 ¹
Detail Table
Expanded Cash Income
Level (thousands of 2015
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
0.5
1.2
5.4
12.8
18.4
24.0
29.0
35.8
34.6
41.3
39.6
17.8
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
0.0
0.1
0.3
0.7
1.1
1.4
1.6
1.4
0.7
0.4
0.1
0.9
0.0
0.2
1.3
3.5
5.2
16.7
16.6
38.0
14.6
2.3
1.3
100.0
Average Federal Tax Change
Dollars
Percent
-2
-10
-68
-238
-435
-778
-1,159
-1,543
-1,557
-1,905
-1,964
-642
-0.5
-1.9
-4.9
-7.6
-8.3
-9.0
-8.0
-5.7
-2.3
-1.0
-0.2
-3.6
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.0
-0.1
-0.1
-0.4
-0.3
-0.5
0.3
0.2
0.9
0.0
Under the
Proposal
0.2
0.5
1.0
1.6
2.2
6.4
7.2
23.6
23.2
8.7
25.4
100.0
Average Federal Tax Rate5
Change (%
Points)
Under the
Proposal
0.0
-0.1
-0.3
-0.7
-1.0
-1.2
-1.3
-1.1
-0.5
-0.3
-0.1
-0.7
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Level, 2016 ¹
Expanded Cash Income
Level (thousands of 2015
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
Pre-Tax Income
Number
(thousands)
Percent of
Total
Average (dollars)
14,724
26,039
21,906
16,072
13,205
23,789
15,880
27,265
10,362
1,317
705
172,532
8.5
15.1
12.7
9.3
7.7
13.8
9.2
15.8
6.0
0.8
0.4
100.0
5,753
15,359
25,245
35,565
45,784
62,910
88,631
141,622
288,418
686,585
3,064,525
86,987
Federal Tax Burden
Percent of
Total
0.6
2.7
3.7
3.8
4.0
10.0
9.4
25.7
19.9
6.0
14.4
100.0
After-Tax Income 4
Average (dollars)
Percent of
Total
Average (dollars)
Percent of
Total
439
539
1,382
3,153
5,244
8,655
14,527
27,050
67,568
195,971
1,066,076
17,747
0.2
0.5
1.0
1.7
2.3
6.7
7.5
24.1
22.9
8.4
24.6
100.0
5,313
14,820
23,863
32,412
40,540
54,255
74,103
114,572
220,849
490,614
1,998,449
69,241
0.7
3.2
4.4
4.4
4.5
10.8
9.9
26.2
19.2
5.4
11.8
100.0
Average
Federal Tax
Rate 5
7.6
3.5
5.5
8.9
11.5
13.8
16.4
19.1
23.4
28.5
34.8
20.4
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
Number of AMT Taxpayers (millions). Baseline: 4.3
Proposal: 4.3
* Less than 0.05
(1) Baseline is current law. Proposal would provide up to $2500 extra refundable CTC. The credit is not subject to phaseout and is limited to net income and payroll taxes.
We assume people who do not file tax returns will continue to not file tax returns. For a description of TPC's current law baseline, see:
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective income class but are
included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(4) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate tax; and excise taxes.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash income.
7.6
3.4
5.2
8.2
10.5
12.5
15.1
18.0
22.9
28.3
34.7
19.7
9-Dec-15
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T15-0210
$2500 Extra Refundable CTC (no phaseout) Limited to Net Income and Payroll Taxes
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Level, 2016 ¹
Detail Table - Single Tax Units
Expanded Cash Income
Level (thousands of 2015
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
0.2
0.4
0.8
1.4
2.0
2.3
2.8
2.6
2.6
2.3
3.0
1.2
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
0.0
0.0
0.1
0.1
0.1
0.1
0.1
0.1
0.1
0.0
0.0
0.1
0.4
2.4
6.0
10.7
12.4
24.6
20.6
17.5
4.4
0.3
0.4
100.0
Average Federal Tax Change
Dollars
Percent
-1
-3
-11
-30
-43
-58
-97
-86
-114
-79
-125
-30
-0.1
-0.3
-0.5
-0.7
-0.7
-0.5
-0.5
-0.3
-0.2
0.0
0.0
-0.4
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.0
0.1
0.0
Under the
Proposal
1.0
2.7
4.5
5.6
6.8
16.4
13.6
21.7
10.2
3.5
13.8
100.0
Average Federal Tax Rate5
Change (%
Points)
Under the
Proposal
0.0
0.0
0.0
-0.1
-0.1
-0.1
-0.1
-0.1
0.0
0.0
0.0
-0.1
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Level, 2016 ¹
Expanded Cash Income
Level (thousands of 2015
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
Pre-Tax Income
Number
(thousands)
Percent of
Total
Average (dollars)
12,809
20,058
14,163
9,258
7,373
10,972
5,479
5,238
994
112
83
87,180
14.7
23.0
16.3
10.6
8.5
12.6
6.3
6.0
1.1
0.1
0.1
100.0
5,712
15,217
25,106
35,513
45,789
62,354
87,830
133,711
276,795
694,692
3,180,472
44,584
Federal Tax Burden
Percent of
Total
1.9
7.9
9.2
8.5
8.7
17.6
12.4
18.0
7.1
2.0
6.8
100.0
After-Tax Income 4
Average (dollars)
Percent of
Total
Average (dollars)
Percent of
Total
540
971
2,305
4,363
6,653
10,769
17,880
29,832
73,900
223,500
1,197,912
8,266
1.0
2.7
4.5
5.6
6.8
16.4
13.6
21.7
10.2
3.5
13.8
100.0
5,171
14,246
22,801
31,150
39,137
51,585
69,951
103,879
202,896
471,193
1,982,560
36,317
2.1
9.0
10.2
9.1
9.1
17.9
12.1
17.2
6.4
1.7
5.2
100.0
Average
Federal Tax
Rate 5
9.5
6.4
9.2
12.3
14.5
17.3
20.4
22.3
26.7
32.2
37.7
18.5
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
* Less than 0.05
(1) Baseline is current law. Proposal would provide up to $2500 extra refundable CTC. The credit is not subject to phaseout and is limited to net income and payroll taxes.
We assume people who do not file tax returns will continue to not file tax returns. For a description of TPC's current law baseline, see:
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective income class but are
included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(4) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate tax; and excise taxes.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash income.
9.4
6.4
9.1
12.2
14.4
17.2
20.3
22.3
26.7
32.2
37.7
18.5
9-Dec-15
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T15-0210
$2500 Extra Refundable CTC (no phaseout) Limited to Net Income and Payroll Taxes
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Level, 2016 ¹
Detail Table - Married Tax Units Filing Jointly
Expanded Cash Income
Level (thousands of 2015
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
1.3
5.1
9.4
17.9
26.3
32.2
37.4
42.9
37.7
44.9
44.7
34.2
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
0.2
0.3
0.5
1.0
1.6
2.0
2.1
1.6
0.8
0.4
0.1
1.1
0.0
0.1
0.5
1.2
2.4
11.1
15.5
45.4
18.8
3.0
1.6
100.0
Average Federal Tax Change
Dollars
-7
-44
-126
-333
-664
-1,163
-1,612
-1,899
-1,710
-2,091
-2,239
-1,410
Percent
-6.5
-26.6
-51.7
-24.6
-21.3
-18.2
-13.0
-7.2
-2.6
-1.1
-0.2
-3.9
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.0
0.0
-0.1
-0.4
-0.4
-0.9
0.4
0.3
1.1
0.0
Under the
Proposal
0.0
0.0
0.0
0.2
0.4
2.0
4.2
23.6
28.9
10.9
29.7
100.0
Average Federal Tax Rate5
Change (%
Points)
Under the
Proposal
-0.2
-0.3
-0.5
-0.9
-1.5
-1.8
-1.8
-1.3
-0.6
-0.3
-0.1
-0.9
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Level, 2016 ¹
Expanded Cash Income
Level (thousands of 2015
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
Pre-Tax Income
Number
(thousands)
Percent of
Total
Average (dollars)
825
1,902
2,948
2,940
2,904
7,878
7,909
19,667
9,043
1,165
594
58,288
1.4
3.3
5.1
5.0
5.0
13.5
13.6
33.7
15.5
2.0
1.0
100.0
4,990
15,969
25,619
35,768
45,927
63,892
89,407
144,686
290,037
685,362
2,981,946
164,217
Federal Tax Burden
Percent of
Total
0.0
0.3
0.8
1.1
1.4
5.3
7.4
29.7
27.4
8.3
18.5
100.0
After-Tax Income 4
Average (dollars)
Percent of
Total
Average (dollars)
Percent of
Total
114
165
243
1,355
3,124
6,395
12,363
26,354
66,805
192,911
1,023,566
36,401
0.0
0.0
0.0
0.2
0.4
2.4
4.6
24.4
28.5
10.6
28.6
100.0
4,876
15,804
25,376
34,412
42,803
57,497
77,045
118,332
223,232
492,451
1,958,379
127,815
0.1
0.4
1.0
1.4
1.7
6.1
8.2
31.2
27.1
7.7
15.6
100.0
Average
Federal Tax
Rate 5
2.3
1.0
1.0
3.8
6.8
10.0
13.8
18.2
23.0
28.2
34.3
22.2
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
* Less than 0.05
(1) Baseline is current law. Proposal would provide up to $2500 extra refundable CTC. The credit is not subject to phaseout and is limited to net income and payroll taxes.
We assume people who do not file tax returns will continue to not file tax returns. For a description of TPC's current law baseline, see:
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective income class but are
included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(4) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate tax; and excise taxes.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash income.
2.1
0.8
0.5
2.9
5.4
8.2
12.0
16.9
22.4
27.8
34.3
21.3
9-Dec-15
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T15-0210
$2500 Extra Refundable CTC (no phaseout) Limited to Net Income and Payroll Taxes
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Level, 2016 ¹
Detail Table - Head of Household Tax Units
Expanded Cash Income
Level (thousands of 2015
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
2.6
3.2
16.6
38.1
55.4
64.4
65.9
57.7
52.8
59.6
55.2
38.2
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
0.2
0.1
0.7
2.0
3.0
3.5
3.1
1.9
1.0
0.4
0.1
2.2
0.0
0.3
3.5
9.8
13.5
33.8
20.0
16.5
2.1
0.2
0.1
100.0
Average Federal Tax Change
Dollars
-11
-22
-194
-689
-1,267
-1,914
-2,264
-2,083
-2,010
-2,032
-2,221
-1,022
Percent
1.6
1.3
19.7
-57.7
-38.4
-27.3
-16.9
-8.1
-3.0
-1.0
-0.2
-16.2
Share of Federal Taxes
Change (% Points)
-0.1
-0.9
-1.2
-1.4
-1.5
-2.7
-0.2
3.2
1.8
0.6
2.4
0.0
Under the
Proposal
-0.5
-5.0
-4.1
1.4
4.2
17.4
19.0
36.1
13.0
3.8
14.7
100.0
Average Federal Tax Rate5
Change (%
Points)
Under the
Proposal
-0.2
-0.1
-0.8
-1.9
-2.8
-3.1
-2.6
-1.6
-0.7
-0.3
-0.1
-1.9
-10.4
-10.8
-4.6
1.4
4.5
8.2
12.7
17.8
23.5
29.4
34.7
9.9
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Level, 2016 ¹
Expanded Cash Income
Level (thousands of 2015
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
Pre-Tax Income
Number
(thousands)
Percent of
Total
Average (dollars)
944
3,778
4,451
3,522
2,630
4,350
2,175
1,950
258
24
14
24,145
3.9
15.7
18.4
14.6
10.9
18.0
9.0
8.1
1.1
0.1
0.1
100.0
6,963
15,795
25,430
35,527
45,596
62,486
87,734
132,812
274,070
693,999
3,840,137
53,332
Federal Tax Burden
Percent of
Total
0.5
4.6
8.8
9.7
9.3
21.1
14.8
20.1
5.5
1.3
4.2
100.0
After-Tax Income 4
Average (dollars)
Percent of
Total
Average (dollars)
Percent of
Total
-711
-1,677
-986
1,194
3,301
7,017
13,431
25,725
66,325
206,307
1,333,715
6,313
-0.4
-4.2
-2.9
2.8
5.7
20.0
19.2
32.9
11.2
3.2
12.4
100.0
7,674
17,473
26,416
34,333
42,295
55,469
74,303
107,087
207,744
487,692
2,506,422
47,020
0.6
5.8
10.4
10.7
9.8
21.3
14.2
18.4
4.7
1.0
3.1
100.0
Average
Federal Tax
Rate 5
-10.2
-10.6
-3.9
3.4
7.2
11.2
15.3
19.4
24.2
29.7
34.7
11.8
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
* Less than 0.05
(1) Baseline is current law. Proposal would provide up to $2500 extra refundable CTC. The credit is not subject to phaseout and is limited to net income and payroll taxes.
We assume people who do not file tax returns will continue to not file tax returns. For a description of TPC's current law baseline, see:
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective income class but are
included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(4) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate tax; and excise taxes.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash income.
9-Dec-15
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T15-0210
$2500 Extra Refundable CTC (no phaseout) Limited to Net Income and Payroll Taxes
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Level, 2016 ¹
Detail Table - Tax Units with Children
Expanded Cash Income
Level (thousands of 2015
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
5.3
6.4
19.7
43.2
62.6
77.6
85.2
82.7
67.5
76.3
78.1
59.2
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
0.3
0.3
0.9
2.3
3.5
4.5
4.5
3.0
1.4
0.7
0.2
2.2
0.0
0.2
1.3
3.4
5.0
16.5
16.4
38.4
14.9
2.3
1.3
100.0
Average Federal Tax Change
Dollars
-23
-53
-251
-808
-1,491
-2,528
-3,415
-3,573
-3,037
-3,519
-3,874
-2,156
Percent
3.0
2.9
20.6
-114.6
-51.8
-37.6
-26.6
-13.7
-4.5
-1.8
-0.4
-8.5
Share of Federal Taxes
Change (% Points)
0.0
-0.1
-0.2
-0.3
-0.4
-1.2
-1.0
-1.4
1.2
0.8
2.5
0.0
Under the
Proposal
-0.1
-0.7
-0.7
0.0
0.4
2.5
4.2
22.4
29.1
11.5
31.3
100.0
Average Federal Tax Rate5
Change (%
Points)
Under the
Proposal
-0.4
-0.3
-1.0
-2.3
-3.3
-4.0
-3.8
-2.5
-1.0
-0.5
-0.1
-1.7
-12.1
-11.9
-5.8
-0.3
3.0
6.7
10.6
15.6
22.0
27.9
34.3
18.9
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Level, 2016 ¹
Expanded Cash Income
Level (thousands of 2015
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
Pre-Tax Income
Number
(thousands)
Percent of
Total
Average (dollars)
1,246
4,675
5,672
4,492
3,628
7,050
5,198
11,657
5,301
712
357
50,272
2.5
9.3
11.3
8.9
7.2
14.0
10.3
23.2
10.5
1.4
0.7
100.0
6,635
15,763
25,471
35,564
45,644
63,024
89,122
144,292
293,122
683,288
2,994,529
123,886
Federal Tax Burden
Percent of
Total
0.1
1.2
2.3
2.6
2.7
7.1
7.4
27.0
25.0
7.8
17.2
100.0
After-Tax Income 4
Average (dollars)
Percent of
Total
Average (dollars)
Percent of
Total
-782
-1,818
-1,218
705
2,881
6,717
12,820
26,147
67,624
193,863
1,031,349
25,527
-0.1
-0.7
-0.5
0.3
0.8
3.7
5.2
23.8
27.9
10.8
28.7
100.0
7,417
17,580
26,689
34,858
42,763
56,307
76,302
118,145
225,499
489,426
1,963,181
98,359
0.2
1.7
3.1
3.2
3.1
8.0
8.0
27.9
24.2
7.0
14.2
100.0
Average
Federal Tax
Rate 5
-11.8
-11.5
-4.8
2.0
6.3
10.7
14.4
18.1
23.1
28.4
34.4
20.6
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
* Less than 0.05
Note: Tax units with children are those claiming an exemption for children at home or away from home.
(1) Baseline is current law. Proposal would provide up to $2500 extra refundable CTC. The credit is not subject to phaseout and is limited to net income and payroll taxes.
We assume people who do not file tax returns will continue to not file tax returns. For a description of TPC's current law baseline, see:
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective income class but are
included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(4) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate tax; and excise taxes.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash income.
9-Dec-15
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T15-0210
$2500 Extra Refundable CTC (no phaseout) Limited to Net Income and Payroll Taxes
Baseline: Current Law
Distribution of Federal Tax Change by Expanded Cash Income Level, 2016 ¹
Detail Table - Elderly Tax Units
Expanded Cash Income
Level (thousands of 2015
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
0.1
*
0.3
0.6
1.0
2.7
3.8
3.9
4.6
4.4
4.6
1.7
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
0.0
0.0
0.0
0.0
0.0
0.1
0.1
0.1
0.1
0.0
0.0
0.1
0.0
0.1
1.1
1.2
2.8
19.2
21.6
33.6
14.5
1.9
1.4
100.0
Average Federal Tax Change
Dollars
Percent
0
0
-3
-5
-16
-63
-108
-126
-181
-162
-172
-47
0.0
-0.1
-0.5
-0.3
-0.6
-1.2
-1.0
-0.5
-0.3
-0.1
0.0
-0.3
Share of Federal Taxes
Change (% Points)
0.0
0.0
0.0
0.0
0.0
-0.1
-0.1
0.0
0.0
0.0
0.1
0.0
Under the
Proposal
0.0
0.4
0.8
1.2
1.7
5.6
7.5
21.6
18.4
8.2
34.1
100.0
Average Federal Tax Rate5
Change (%
Points)
Under the
Proposal
0.0
0.0
0.0
0.0
0.0
-0.1
-0.1
-0.1
-0.1
0.0
0.0
-0.1
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Level, 2016 ¹
Expanded Cash Income
Level (thousands of 2015
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
Pre-Tax Income
Number
(thousands)
Percent of
Total
Average (dollars)
1,889
7,909
6,516
4,256
3,361
5,868
3,871
5,135
1,539
220
159
41,164
4.6
19.2
15.8
10.3
8.2
14.3
9.4
12.5
3.7
0.5
0.4
100.0
5,514
15,610
25,150
35,561
45,754
62,781
88,361
138,547
285,155
710,712
3,339,288
76,347
Federal Tax Burden
Percent of
Total
0.3
3.9
5.2
4.8
4.9
11.7
10.9
22.6
14.0
5.0
16.9
100.0
After-Tax Income 4
Average (dollars)
Percent of
Total
Average (dollars)
Percent of
Total
131
265
721
1,580
2,786
5,408
10,948
23,508
66,530
206,407
1,195,134
13,565
0.0
0.4
0.8
1.2
1.7
5.7
7.6
21.6
18.3
8.1
34.0
100.0
5,383
15,344
24,429
33,981
42,968
57,373
77,413
115,039
218,626
504,305
2,144,154
62,782
0.4
4.7
6.2
5.6
5.6
13.0
11.6
22.9
13.0
4.3
13.2
100.0
Average
Federal Tax
Rate 5
2.4
1.7
2.9
4.4
6.1
8.6
12.4
17.0
23.3
29.0
35.8
17.8
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0515-1).
* Less than 0.05
Note: Elderly tax units are those with either head or spouse (if filing jointly) age 65 or older.
(1) Baseline is current law. Proposal would provide up to $2500 extra refundable CTC. The credit is not subject to phaseout and is limited to net income and payroll taxes.
We assume people who do not file tax returns will continue to not file tax returns. For a description of TPC's current law baseline, see:
http://www.taxpolicycenter.org/taxtopics/Baseline-Definitions.cfm
(2) Includes both filing and non-filing units but excludes those that are dependents of other tax units. Tax units with negative adjusted gross income are excluded from their respective income class but are
included in the totals. For a description of expanded cash income, see
http://www.taxpolicycenter.org/TaxModel/income.cfm
(3) Includes tax units with a change in federal tax burden of $10 or more in absolute value.
(4) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); estate tax; and excise taxes.
(5) Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash income.
2.4
1.7
2.9
4.4
6.1
8.5
12.3
16.9
23.3
29.0
35.8
17.7