30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0051
Administration's FY 2015 Budget Proposal
All Major Tax Provisions
Distribution of Federal Tax Change by Expanded Cash Income Level, 2015 ¹
Summary Table
Expanded Cash Income
Level
(thousands of 2013
dollars) 2
Number
(thousands)
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
11,178
22,170
19,574
15,956
13,025
24,877
15,960
28,866
8,770
1,076
629
163,798
Tax Units
Percent of Total
6.8
13.5
12.0
9.7
8.0
15.2
9.7
17.6
5.4
0.7
0.4
100.0
Percent Change
in After-Tax
Income 3
2.3
0.8
0.0
-0.1
-0.1
-0.1
-0.1
-0.1
-0.6
-1.4
-3.3
-0.6
Share of Total
Federal Tax
Change
-2.3
-4.3
-0.1
0.7
0.8
1.6
1.4
5.0
19.3
11.7
66.2
100.0
Average
Federal Tax
Change ($)
-133
-128
-4
30
40
43
56
114
1,450
7,141
69,269
402
Average Federal Tax Rate 4
Change (%
Points)
-2.2
-0.8
0.0
0.1
0.1
0.1
0.1
0.1
0.5
1.0
2.1
0.5
Under the
Proposal
2.3
1.6
4.9
8.0
10.5
13.8
16.0
18.4
23.1
29.4
37.5
20.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0613-3).
Number of AMT Taxpayers (millions). Baseline: 4.5
Proposal: 4.4
(1) Calendar year. Baseline is current law. Proposal would (a) provide incentives for job creation, clean energy, and manufacturing; (b) provide
incentives for investment in infrastructure; (c) increase earned income tax credit for taxpayers without qualifying children by doubling maximum
credit and expanding age eligibility; (d) expand child and dependent care credit for qualifying children under 5; (e) exclude Pell Grants from
income and tax credit calculations; (f) limit the value of itemized deductions and certain other deductions and exclusions to 28 percent; (g) enact
the Fair Share Tax (“Buffett rule”); (h) impose a financial crisis responsibility fee; (i) tax carried interests (profits) as ordinary income; (j) limit
accrual in tax favored retirement accounts; (k) conform SECA taxes for professional service businesses; (l) reinstate Superfund income and excise
taxes; (m) increase tobacco excise taxes and index for inflation; (n) make unemployment insurance surtax permanent and expand FUTA base; (o)
eliminate deduction for dividends from employee stock ownership plans; and (p) simplify rules for claiming the childless EITC. 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) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare);
and estate tax.
(4) 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
expanded cash income.
30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0051
Administration's FY 2015 Budget Proposal
All Major Tax Provisions
Distribution of Federal Tax Change by Expanded Cash Income Level, 2015 ¹
Detail Table
Expanded Cash Income
Level
(thousands of 2013
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
Percent
Change in
After-Tax
3
Income
Share of Total
Federal Tax
Change
2.3
0.8
0.0
-0.1
-0.1
-0.1
-0.1
-0.1
-0.6
-1.4
-3.3
-0.6
-2.3
-4.3
-0.1
0.7
0.8
1.6
1.4
5.0
19.3
11.7
66.2
100.0
Average Federal Tax Change
Dollars
-133
-128
-4
30
40
43
56
114
1,450
7,141
69,269
402
Share of Federal Taxes
Percent
Change
(% Points)
-49.3
-34.1
-0.3
1.1
0.8
0.5
0.4
0.4
2.2
3.6
6.0
2.3
-0.1
-0.1
0.0
0.0
0.0
-0.1
-0.2
-0.5
0.0
0.1
0.9
0.0
Under the
Proposal
0.1
0.2
0.8
1.6
2.2
7.5
7.8
25.7
20.4
7.5
26.1
100.0
Average Federal Tax Rate
Change
(% Points)
-2.2
-0.8
0.0
0.1
0.1
0.1
0.1
0.1
0.5
1.0
2.1
0.5
4
Under the
Proposal
2.3
1.6
4.9
8.0
10.5
13.8
16.0
18.4
23.1
29.4
37.5
20.1
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Level, 2015 ¹
Expanded Cash Income
Level
(thousands of 2013
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
Number
(thousands)
11,178
22,170
19,574
15,956
13,025
24,877
15,960
28,866
8,770
1,076
629
163,798
Pre-Tax Income
Percent of Total
6.8
13.5
12.0
9.7
8.0
15.2
9.7
17.6
5.4
0.7
0.4
100.0
Average (dollars)
6,076
15,744
25,753
36,289
46,641
64,010
89,951
142,712
296,335
700,375
3,264,593
89,403
Percent of Total
0.5
2.4
3.4
4.0
4.2
10.9
9.8
28.1
17.8
5.2
14.0
100.0
Federal Tax Burden
Average (dollars)
270
375
1,262
2,860
4,835
8,785
14,369
26,188
67,084
198,974
1,153,221
17,604
Percent of
Total
0.1
0.3
0.9
1.6
2.2
7.6
8.0
26.2
20.4
7.4
25.2
100.0
After-Tax Income 3
Average (dollars)
5,807
15,369
24,490
33,429
41,806
55,225
75,582
116,524
229,251
501,401
2,111,372
71,799
Percent of
Total
0.6
2.9
4.1
4.5
4.6
11.7
10.3
28.6
17.1
4.6
11.3
100.0
Average
Federal Tax
4
Rate
4.4
2.4
4.9
7.9
10.4
13.7
16.0
18.4
22.6
28.4
35.3
19.7
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0613-3).
Number of AMT Taxpayers (millions). Baseline: 4.5
Proposal: 4.4
(1) Calendar year. Baseline is current law. Proposal would (a) provide incentives for job creation, clean energy, and manufacturing; (b) provide
incentives for investment in infrastructure; (c) increase earned income tax credit for taxpayers without qualifying children by doubling maximum
credit and expanding age eligibility; (d) expand child and dependent care credit for qualifying children under 5; (e) exclude Pell Grants from
income and tax credit calculations; (f) limit the value of itemized deductions and certain other deductions and exclusions to 28 percent; (g) enact
the Fair Share Tax (“Buffett rule”); (h) impose a financial crisis responsibility fee; (i) tax carried interests (profits) as ordinary income; (j) limit
accrual in tax favored retirement accounts; (k) conform SECA taxes for professional service businesses; (l) reinstate Superfund income and excise
taxes; (m) increase tobacco excise taxes and index for inflation; (n) make unemployment insurance surtax permanent and expand FUTA base; (o)
eliminate deduction for dividends from employee stock ownership plans; and (p) simplify rules for claiming the childless EITC. 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) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(4) 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 expanded cash income.
30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0051
Administration's FY 2015 Budget Proposal
All Major Tax Provisions
Distribution of Federal Tax Change by Expanded Cash Income Level, 2015 ¹
Detail Table - Single Tax Units
Expanded Cash Income
Level
(thousands of 2013
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
Change in
After-Tax
Income 3
Share of Total
Federal Tax
Change
2.9
1.1
0.1
-0.1
-0.1
-0.1
-0.1
-0.1
-0.7
-1.4
-4.2
-0.2
-25.1
-45.5
-4.9
2.9
4.8
9.6
5.2
6.6
23.7
13.6
109.6
100.0
Average Federal Tax Change
Dollars
-162
-165
-24
20
45
54
62
87
1,539
6,662
87,233
79
Share of Federal Taxes
Percent
Change
(% Points)
-40.6
-19.9
-1.1
0.5
0.7
0.5
0.3
0.3
2.0
3.2
7.0
0.9
-0.2
-0.4
-0.1
0.0
0.0
-0.1
-0.1
-0.1
0.1
0.1
0.8
0.0
Under the
Proposal
0.3
1.6
4.0
5.5
6.5
18.2
13.7
20.6
10.5
3.9
14.9
100.0
Average Federal Tax Rate 4
Change
(% Points)
-2.7
-1.1
-0.1
0.1
0.1
0.1
0.1
0.1
0.5
1.0
2.6
0.2
Under the
Proposal
3.9
4.3
8.7
11.8
14.7
18.1
20.6
22.9
26.3
31.3
40.3
18.9
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Level, 2015 ¹
Expanded Cash Income
Level
(thousands of 2013
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
Number
(thousands)
9,172
16,267
12,067
8,699
6,316
10,551
4,998
4,453
913
121
74
74,471
Pre-Tax Income
Percent of Total
12.3
21.8
16.2
11.7
8.5
14.2
6.7
6.0
1.2
0.2
0.1
100.0
Average (dollars)
6,047
15,651
25,560
36,250
46,495
63,958
89,284
135,426
293,103
691,787
3,325,129
47,608
Percent of Total
1.6
7.2
8.7
8.9
8.3
19.0
12.6
17.0
7.5
2.4
7.0
100.0
Federal Tax Burden
Average (dollars)
398
834
2,237
4,248
6,803
11,509
18,313
30,952
75,441
209,796
1,252,565
8,920
Percent of
Total
0.6
2.0
4.1
5.6
6.5
18.3
13.8
20.8
10.4
3.8
14.0
100.0
After-Tax Income 3
Average (dollars)
5,649
14,817
23,324
32,002
39,693
52,449
70,971
104,474
217,662
481,990
2,072,564
38,688
Percent of
Total
1.8
8.4
9.8
9.7
8.7
19.2
12.3
16.2
6.9
2.0
5.4
100.0
Average
Federal Tax
Rate 4
6.6
5.3
8.8
11.7
14.6
18.0
20.5
22.9
25.7
30.3
37.7
18.7
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0613-3).
(1) Calendar year. Baseline is current law. Proposal would (a) provide incentives for job creation, clean energy, and manufacturing; (b) provide
incentives for investment in infrastructure; (c) increase earned income tax credit for taxpayers without qualifying children by doubling maximum
credit and expanding age eligibility; (d) expand child and dependent care credit for qualifying children under 5; (e) exclude Pell Grants from
income and tax credit calculations; (f) limit the value of itemized deductions and certain other deductions and exclusions to 28 percent; (g) enact
the Fair Share Tax (“Buffett rule”); (h) impose a financial crisis responsibility fee; (i) tax carried interests (profits) as ordinary income; (j) limit
accrual in tax favored retirement accounts; (k) conform SECA taxes for professional service businesses; (l) reinstate Superfund income and excise
taxes; (m) increase tobacco excise taxes and index for inflation; (n) make unemployment insurance surtax permanent and expand FUTA base; (o)
eliminate deduction for dividends from employee stock ownership plans; and (p) simplify rules for claiming the childless EITC. 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) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(4) 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 expanded cash income.
30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0051
Administration's FY 2015 Budget Proposal
All Major Tax Provisions
Distribution of Federal Tax Change by Expanded Cash Income Level, 2015 ¹
Detail Table - Married Tax Units Filing Jointly
Expanded Cash Income
Level
(thousands of 2013
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
Change in
After-Tax
Income 3
Share of Total
Federal Tax
Change
0.3
0.2
-0.1
-0.1
0.0
-0.1
-0.1
-0.1
-0.6
-1.4
-3.1
-0.7
0.0
-0.1
0.1
0.2
0.1
0.6
0.8
4.5
19.5
12.1
62.3
100.0
Average Federal Tax Change
Dollars
-14
-38
15
25
13
38
55
110
1,410
7,183
64,908
885
Share of Federal Taxes
Percent
Change
(% Points)
-11.0
-49.8
3.0
2.0
0.5
0.6
0.5
0.4
2.1
3.6
5.8
2.7
0.0
0.0
0.0
0.0
0.0
-0.1
-0.1
-0.6
-0.1
0.1
0.9
0.0
Under the
Proposal
0.0
0.0
0.1
0.2
0.5
2.7
4.9
27.4
24.6
9.1
30.3
100.0
Average Federal Tax Rate 4
Change
(% Points)
-0.3
-0.2
0.1
0.1
0.0
0.1
0.1
0.1
0.5
1.0
2.0
0.6
Under the
Proposal
2.0
0.2
1.9
3.6
5.6
9.5
13.3
17.4
22.6
29.2
37.0
21.6
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Level, 2015 ¹
Expanded Cash Income
Level
(thousands of 2013
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
Number
(thousands)
850
1,869
3,039
3,256
3,586
9,047
8,453
22,471
7,599
925
529
62,259
Pre-Tax Income
Percent of Total
1.4
3.0
4.9
5.2
5.8
14.5
13.6
36.1
12.2
1.5
0.9
100.0
Average (dollars)
5,409
16,299
26,098
36,414
46,902
64,385
90,693
145,046
296,744
701,317
3,202,772
154,113
Percent of Total
0.1
0.3
0.8
1.2
1.8
6.1
8.0
34.0
23.5
6.8
17.7
100.0
Federal Tax Burden
Average (dollars)
124
75
491
1,270
2,597
6,086
11,982
25,147
65,781
197,277
1,121,475
32,396
Percent of
Total
0.0
0.0
0.1
0.2
0.5
2.7
5.0
28.0
24.8
9.1
29.4
100.0
After-Tax Income 3
Average (dollars)
5,285
16,224
25,607
35,145
44,306
58,298
78,711
119,899
230,962
504,041
2,081,297
121,717
Percent of
Total
0.1
0.4
1.0
1.5
2.1
7.0
8.8
35.6
23.2
6.2
14.5
100.0
Average
Federal Tax
Rate 4
2.3
0.5
1.9
3.5
5.5
9.5
13.2
17.3
22.2
28.1
35.0
21.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0613-3).
(1) Calendar year. Baseline is current law. Proposal would (a) provide incentives for job creation, clean energy, and manufacturing; (b) provide
incentives for investment in infrastructure; (c) increase earned income tax credit for taxpayers without qualifying children by doubling maximum
credit and expanding age eligibility; (d) expand child and dependent care credit for qualifying children under 5; (e) exclude Pell Grants from
income and tax credit calculations; (f) limit the value of itemized deductions and certain other deductions and exclusions to 28 percent; (g) enact
the Fair Share Tax (“Buffett rule”); (h) impose a financial crisis responsibility fee; (i) tax carried interests (profits) as ordinary income; (j) limit
accrual in tax favored retirement accounts; (k) conform SECA taxes for professional service businesses; (l) reinstate Superfund income and excise
taxes; (m) increase tobacco excise taxes and index for inflation; (n) make unemployment insurance surtax permanent and expand FUTA base; (o)
eliminate deduction for dividends from employee stock ownership plans; and (p) simplify rules for claiming the childless EITC. 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) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(4) 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 expanded cash income.
30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0051
Administration's FY 2015 Budget Proposal
All Major Tax Provisions
Distribution of Federal Tax Change by Expanded Cash Income Level, 2015 ¹
Detail Table - Head of Household Tax Units
Expanded Cash Income
Level
(thousands of 2013
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
Change in
After-Tax
Income 3
Share of Total
Federal Tax
Change
0.0
0.1
-0.1
-0.2
-0.1
0.0
-0.1
-0.1
-0.8
-1.3
-3.1
-0.2
0.1
-4.2
7.3
9.8
7.8
5.2
3.7
7.6
17.2
5.8
39.3
100.0
Average Federal Tax Change
Dollars
Share of Federal Taxes
Percent
Change
(% Points)
-0.3
1.5
-3.1
7.9
2.0
0.3
0.3
0.4
2.6
3.2
5.9
1.5
0.0
0.0
0.2
0.1
0.0
-0.3
-0.3
-0.3
0.1
0.1
0.4
0.0
3
-23
36
56
58
24
37
99
1,848
6,430
62,572
86
Under the
Proposal
-0.6
-4.3
-3.5
2.0
6.1
25.6
21.1
29.9
10.1
2.8
10.7
100.0
Average Federal Tax Rate 4
Change
(% Points)
0.0
-0.1
0.1
0.2
0.1
0.0
0.0
0.1
0.6
0.9
2.0
0.2
Under the
Proposal
-11.4
-9.6
-4.4
2.1
6.4
12.0
15.7
19.5
24.8
29.6
36.6
11.1
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Level, 2015 ¹
Expanded Cash Income
Level
(thousands of 2013
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
Number
(thousands)
1,041
3,834
4,122
3,620
2,789
4,580
2,060
1,581
191
19
13
24,016
Pre-Tax Income
Percent of Total
4.3
16.0
17.2
15.1
11.6
19.1
8.6
6.6
0.8
0.1
0.1
100.0
Average (dollars)
6,861
15,876
26,043
36,244
46,656
63,472
88,731
132,072
289,760
694,174
3,073,454
51,174
Percent of Total
0.6
5.0
8.7
10.7
10.6
23.7
14.9
17.0
4.5
1.1
3.2
100.0
Federal Tax Burden
Average (dollars)
-784
-1,498
-1,185
700
2,931
7,563
13,858
25,593
69,938
198,732
1,063,415
5,576
Percent of
Total
-0.6
-4.3
-3.7
1.9
6.1
25.9
21.3
30.2
10.0
2.8
10.3
100.0
After-Tax Income 3
Average (dollars)
7,645
17,374
27,228
35,544
43,724
55,909
74,873
106,479
219,822
495,442
2,010,039
45,598
Percent of
Total
0.7
6.1
10.3
11.8
11.1
23.4
14.1
15.4
3.8
0.8
2.4
100.0
Average
Federal Tax
Rate 4
-11.4
-9.4
-4.6
1.9
6.3
11.9
15.6
19.4
24.1
28.6
34.6
10.9
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0613-3).
(1) Calendar year. Baseline is current law. Proposal would (a) provide incentives for job creation, clean energy, and manufacturing; (b) provide
incentives for investment in infrastructure; (c) increase earned income tax credit for taxpayers without qualifying children by doubling maximum
credit and expanding age eligibility; (d) expand child and dependent care credit for qualifying children under 5; (e) exclude Pell Grants from
income and tax credit calculations; (f) limit the value of itemized deductions and certain other deductions and exclusions to 28 percent; (g) enact
the Fair Share Tax (“Buffett rule”); (h) impose a financial crisis responsibility fee; (i) tax carried interests (profits) as ordinary income; (j) limit
accrual in tax favored retirement accounts; (k) conform SECA taxes for professional service businesses; (l) reinstate Superfund income and excise
taxes; (m) increase tobacco excise taxes and index for inflation; (n) make unemployment insurance surtax permanent and expand FUTA base; (o)
eliminate deduction for dividends from employee stock ownership plans; and (p) simplify rules for claiming the childless EITC. 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) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(4) 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 expanded cash income.
30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0051
Administration's FY 2015 Budget Proposal
All Major Tax Provisions
Distribution of Federal Tax Change by Expanded Cash Income Level, 2015 ¹
Detail Table - Tax Units with Children
Expanded Cash Income
Level
(thousands of 2013
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
Percent
Change in
After-Tax
3
Income
Share of Total
Federal Tax
Change
-0.6
-0.3
-0.2
-0.2
-0.1
-0.1
-0.1
-0.1
-0.7
-1.5
-2.8
-0.6
0.2
0.7
1.0
0.9
0.7
0.8
0.8
4.8
24.4
13.2
52.6
100.0
Average Federal Tax Change
Dollars
47
46
58
57
53
31
39
105
1,661
7,504
55,422
567
Share of Federal Taxes
Percent
Change
(% Points)
-4.7
-2.2
-3.3
-58.1
2.6
0.5
0.3
0.4
2.6
3.9
5.1
2.6
0.0
0.0
0.1
0.0
0.0
-0.1
-0.1
-0.6
0.0
0.1
0.7
0.0
Under the
Proposal
-0.1
-0.8
-0.8
0.0
0.7
4.4
6.2
28.6
24.9
9.1
27.7
100.0
Average Federal Tax Rate 4
Change
(% Points)
0.7
0.3
0.2
0.2
0.1
0.1
0.0
0.1
0.6
1.1
1.8
0.5
Under the
Proposal
-14.8
-12.7
-6.6
-0.1
4.6
10.1
13.6
17.0
22.4
29.0
36.9
19.1
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Level, 2015 ¹
Expanded Cash Income
Level
(thousands of 2013
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
Number
(thousands)
1,373
4,412
5,023
4,528
3,818
7,643
5,719
13,208
4,259
509
275
51,185
Pre-Tax Income
Percent of Total
2.7
8.6
9.8
8.9
7.5
14.9
11.2
25.8
8.3
1.0
0.5
100.0
Average (dollars)
6,549
15,963
25,966
36,268
46,711
64,137
90,283
145,049
296,704
699,639
3,098,566
116,097
Percent of Total
0.2
1.2
2.2
2.8
3.0
8.3
8.7
32.2
21.3
6.0
14.4
100.0
Federal Tax Burden
Average (dollars)
-1,017
-2,068
-1,768
-97
2,073
6,447
12,225
24,517
64,680
195,131
1,086,497
21,631
Percent of
Total
-0.1
-0.8
-0.8
0.0
0.7
4.5
6.3
29.3
24.9
9.0
27.0
100.0
After-Tax Income 3
Average (dollars)
7,566
18,031
27,734
36,366
44,638
57,690
78,059
120,533
232,024
504,508
2,012,069
94,467
Percent of
Total
0.2
1.7
2.9
3.4
3.5
9.1
9.2
32.9
20.4
5.3
11.5
100.0
Average
Federal Tax
4
Rate
-15.5
-13.0
-6.8
-0.3
4.4
10.1
13.5
16.9
21.8
27.9
35.1
18.6
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0613-3).
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. Proposal would (a) provide incentives for job creation, clean energy, and manufacturing; (b) provide
incentives for investment in infrastructure; (c) increase earned income tax credit for taxpayers without qualifying children by doubling maximum
credit and expanding age eligibility; (d) expand child and dependent care credit for qualifying children under 5; (e) exclude Pell Grants from
income and tax credit calculations; (f) limit the value of itemized deductions and certain other deductions and exclusions to 28 percent; (g) enact
the Fair Share Tax (“Buffett rule”); (h) impose a financial crisis responsibility fee; (i) tax carried interests (profits) as ordinary income; (j) limit
accrual in tax favored retirement accounts; (k) conform SECA taxes for professional service businesses; (l) reinstate Superfund income and excise
taxes; (m) increase tobacco excise taxes and index for inflation; (n) make unemployment insurance surtax permanent and expand FUTA base; (o)
eliminate deduction for dividends from employee stock ownership plans; and (p) simplify rules for claiming the childless EITC. 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) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(4) 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 expanded cash income.
30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0051
Administration's FY 2015 Budget Proposal
All Major Tax Provisions
Distribution of Federal Tax Change by Expanded Cash Income Level, 2015 ¹
Detail Table - Elderly Tax Units
Expanded Cash Income
Level
(thousands of 2013
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
Percent
Change in
After-Tax
3
Income
Share of Total
Federal Tax
Change
-0.1
-0.1
0.0
0.0
0.0
0.0
0.0
-0.1
-0.4
-1.4
-4.6
-0.7
0.1
0.4
0.1
-0.2
-0.2
0.5
0.7
1.7
9.1
8.2
79.6
100.0
Average Federal Tax Change
Dollars
Share of Federal Taxes
Percent
Change
(% Points)
8.4
10.7
0.8
-0.5
-0.4
0.3
0.3
0.3
1.5
3.4
8.3
3.3
0.0
0.0
0.0
0.0
-0.1
-0.2
-0.2
-0.7
-0.4
0.0
1.5
0.0
7
10
4
-7
-12
15
33
56
1,008
6,819
98,406
447
Under the
Proposal
0.0
0.1
0.6
1.2
1.7
6.3
7.8
21.4
19.7
8.1
33.0
100.0
Average Federal Tax Rate 4
Change
(% Points)
0.1
0.1
0.0
0.0
0.0
0.0
0.0
0.0
0.3
1.0
3.0
0.6
Under the
Proposal
1.4
0.7
2.3
4.1
5.9
9.0
12.6
16.3
23.1
30.1
38.6
17.7
Baseline Distribution of Income and Federal Taxes
by Expanded Cash Income Level, 2015 ¹
Expanded Cash Income
Level
(thousands of 2013
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
Number
(thousands)
1,600
6,764
5,182
4,055
3,258
5,716
3,604
4,957
1,493
201
134
37,154
Pre-Tax Income
Percent of Total
4.3
18.2
14.0
10.9
8.8
15.4
9.7
13.3
4.0
0.5
0.4
100.0
Average (dollars)
6,404
15,959
25,430
36,345
46,607
63,444
90,042
137,873
296,738
700,400
3,311,838
79,405
Percent of Total
0.4
3.7
4.5
5.0
5.2
12.3
11.0
23.2
15.0
4.8
15.1
100.0
Federal Tax Burden
Average (dollars)
83
96
571
1,484
2,747
5,711
11,263
22,454
67,664
203,819
1,180,303
13,590
Percent of
Total
0.0
0.1
0.6
1.2
1.8
6.5
8.0
22.0
20.0
8.1
31.4
100.0
After-Tax Income 3
Average (dollars)
6,321
15,863
24,859
34,861
43,859
57,734
78,778
115,419
229,075
496,581
2,131,535
65,815
Percent of
Total
0.4
4.4
5.3
5.8
5.8
13.5
11.6
23.4
14.0
4.1
11.7
100.0
Average
Federal Tax
4
Rate
1.3
0.6
2.2
4.1
5.9
9.0
12.5
16.3
22.8
29.1
35.6
17.1
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0613-3).
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. Proposal would (a) provide incentives for job creation, clean energy, and manufacturing; (b) provide
incentives for investment in infrastructure; (c) increase earned income tax credit for taxpayers without qualifying children by doubling maximum
credit and expanding age eligibility; (d) expand child and dependent care credit for qualifying children under 5; (e) exclude Pell Grants from
income and tax credit calculations; (f) limit the value of itemized deductions and certain other deductions and exclusions to 28 percent; (g) enact
the Fair Share Tax (“Buffett rule”); (h) impose a financial crisis responsibility fee; (i) tax carried interests (profits) as ordinary income; (j) limit
accrual in tax favored retirement accounts; (k) conform SECA taxes for professional service businesses; (l) reinstate Superfund income and excise
taxes; (m) increase tobacco excise taxes and index for inflation; (n) make unemployment insurance surtax permanent and expand FUTA base; (o)
eliminate deduction for dividends from employee stock ownership plans; and (p) simplify rules for claiming the childless EITC. 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) After-tax income is expanded cash income less: individual income tax net of refundable credits; corporate income tax; payroll taxes (Social Security and Medicare); and estate tax.
(4) 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 expanded cash income.