30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0055
Administration's FY 2015 Budget Proposal
Major Individual Income Tax Provisions
Distribution of Federal Tax Change by Expanded Cash Income Level, 2015 ¹
Summary 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
Tax Units with Tax Increase or Cut 3
With Tax Cut
Pct of Tax Units
30.9
25.5
9.6
4.9
3.6
2.9
2.4
2.6
*
0.0
0.0
8.7
With Tax Increase
Avg Tax Cut
-468
-588
-431
-483
-501
-669
-831
-399
**
0
0
-528
Pct of Tax Units
0.0
0.0
*
*
0.1
0.1
*
0.3
40.5
96.5
98.8
3.3
Avg Tax Increase
0
0
**
**
1,502
1,534
**
2,421
2,919
6,433
66,517
10,988
Percent Change
in After-Tax
4
Income
2.5
1.0
0.2
0.1
0.0
0.0
0.0
0.0
-0.5
-1.2
-3.1
-0.4
Share of Total
Federal Tax
Change
Average
Federal Tax
Change ($)
-3.2
-6.5
-1.6
-0.7
-0.4
-0.9
-0.6
-0.1
20.3
13.1
80.8
100.0
-145
-150
-41
-23
-17
-19
-19
-2
1,182
6,207
65,739
312
Average Federal Tax Rate5
Change
(% Points)
-2.4
-1.0
-0.2
-0.1
0.0
0.0
0.0
0.0
0.4
0.9
2.0
0.4
Under the
Proposal
2.1
1.4
4.7
7.8
10.3
13.7
16.0
18.4
23.0
29.3
37.3
20.0
Source: Urban-Brookings Tax Policy Center Microsimulation Model (version 0613-3).
Number of AMT Taxpayers (millions). Baseline: 4.5
Proposal: 4.4
* Less than 0.05
** Insufficient data
(1) Calendar year. Baseline is current law. Proposal would (a) increase earned income tax credit for taxpayers without qualifying children by doubling maximum credit and expanding
age eligibility; (b) expand child and dependent care tax credit for qualifying children under 5; (c) limit the value of itemized deductions and certain other deductions and exclusions to
28 percent; and (d) enact the Fair Share Tax (“Buffett rule”). 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); 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 expanded cash income.
30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0055
Administration's FY 2015 Budget Proposal
Major Individual Income 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 of Tax Units 3
With Tax Cut
With Tax
Increase
30.9
25.5
9.6
4.9
3.6
2.9
2.4
2.6
*
0.0
0.0
8.7
0.0
0.0
*
*
0.1
0.1
*
0.3
40.5
96.5
98.8
3.3
Percent Change
in After-Tax
4
Income
2.5
1.0
0.2
0.1
0.0
0.0
0.0
0.0
-0.5
-1.2
-3.1
-0.4
Share of Total
Federal Tax
Change
-3.2
-6.5
-1.6
-0.7
-0.4
-0.9
-0.6
-0.1
20.3
13.1
80.8
100.0
Average Federal Tax Change
Dollars
Percent
-145
-150
-41
-23
-17
-19
-19
-2
1,182
6,207
65,739
312
-53.7
-39.9
-3.3
-0.8
-0.4
-0.2
-0.1
0.0
1.8
3.1
5.7
1.8
Share of Federal Taxes
Change
(% Points)
-0.1
-0.1
0.0
0.0
-0.1
-0.2
-0.2
-0.5
0.0
0.1
1.0
0.0
Under the
Proposal
0.1
0.2
0.8
1.5
2.1
7.4
7.8
25.8
20.4
7.5
26.1
100.0
5
Average Federal Tax Rate
Change
(% Points)
-2.4
-1.0
-0.2
-0.1
0.0
0.0
0.0
0.0
0.4
0.9
2.0
0.4
Under the
Proposal
2.1
1.4
4.7
7.8
10.3
13.7
16.0
18.4
23.0
29.3
37.3
20.0
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
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
4
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
5
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
* Less than 0.05
(1) Calendar year. Baseline is current law. Proposal would (a) increase earned income tax credit for taxpayers without qualifying children by doubling maximum credit and expanding
age eligibility; (b) expand child and dependent care tax credit for qualifying children under 5; (c) limit the value of itemized deductions and certain other deductions and exclusions to
28 percent; and (d) enact the Fair Share Tax (“Buffett rule”). 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); 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 expanded cash income.
30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0055
Administration's FY 2015 Budget Proposal
Major Individual Income 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 of Tax Units 3
With Tax Cut
With Tax
Increase
35.2
30.4
11.4
4.4
1.6
0.5
0.2
0.2
0.0
0.0
0.0
13.8
0.0
*
*
0.0
*
0.0
0.0
*
65.6
91.2
97.5
1.1
Percent Change
in After-Tax
Income 4
2.9
1.2
0.2
0.1
0.0
0.0
0.0
0.0
-0.6
-1.2
-4.1
-0.1
Share of Total
Federal Tax
Change
-54.0
-103.4
-20.5
-7.0
-1.6
-1.2
-0.2
-0.1
40.8
23.9
225.0
100.0
Average Federal Tax Change
Dollars
Percent
-166
-179
-48
-23
-7
-3
-1
-1
1,263
5,599
85,358
38
-41.7
-21.5
-2.1
-0.5
-0.1
0.0
0.0
0.0
1.7
2.7
6.8
0.4
Share of Federal Taxes
Change
(% Points)
-0.2
-0.5
-0.1
-0.1
0.0
-0.1
-0.1
-0.1
0.1
0.1
0.9
0.0
Under the
Proposal
0.3
1.6
4.0
5.5
6.4
18.2
13.7
20.7
10.5
3.9
14.9
100.0
Average Federal Tax Rate5
Change
(% Points)
-2.8
-1.2
-0.2
-0.1
0.0
0.0
0.0
0.0
0.4
0.8
2.6
0.1
Under the
Proposal
3.8
4.2
8.6
11.7
14.6
18.0
20.5
22.9
26.2
31.1
40.2
18.8
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 4
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 5
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).
* Less than 0.05
(1) Calendar year. Baseline is current law. Proposal would (a) increase earned income tax credit for taxpayers without qualifying children by doubling maximum credit and expanding
age eligibility; (b) expand child and dependent care tax credit for qualifying children under 5; (c) limit the value of itemized deductions and certain other deductions and exclusions to
28 percent; and (d) enact the Fair Share Tax (“Buffett rule”). 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); 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 expanded cash income.
30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0055
Administration's FY 2015 Budget Proposal
Major Individual Income 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 of Tax Units 3
With Tax Cut
With Tax
Increase
12.2
13.8
9.7
6.9
6.8
3.9
3.0
2.9
*
0.0
0.0
3.9
0.0
0.0
*
0.1
*
0.2
0.1
*
36.8
97.3
99.1
6.8
Percent Change
in After-Tax
Income 4
0.8
0.5
0.2
0.1
0.1
0.0
0.0
0.0
-0.5
-1.2
-2.9
-0.6
Share of Total
Federal Tax
Change
-0.1
-0.3
-0.3
-0.2
-0.3
-0.4
-0.4
-0.5
19.0
12.7
70.8
100.0
Average Federal Tax Change
Dollars
Percent
-41
-75
-46
-31
-33
-19
-22
-11
1,144
6,268
61,062
733
-33.5
-99.3
-9.3
-2.4
-1.3
-0.3
-0.2
0.0
1.7
3.2
5.4
2.3
Share of Federal Taxes
Change
(% Points)
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
24.7
9.1
30.3
100.0
Average Federal Tax Rate5
Change
(% Points)
-0.8
-0.5
-0.2
-0.1
-0.1
0.0
0.0
0.0
0.4
0.9
1.9
0.5
Under the
Proposal
1.5
0.0
1.7
3.4
5.5
9.4
13.2
17.3
22.6
29.0
36.9
21.5
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 4
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 5
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).
* Less than 0.05
(1) Calendar year. Baseline is current law. Proposal would (a) increase earned income tax credit for taxpayers without qualifying children by doubling maximum credit and expanding
age eligibility; (b) expand child and dependent care tax credit for qualifying children under 5; (c) limit the value of itemized deductions and certain other deductions and exclusions to
28 percent; and (d) enact the Fair Share Tax (“Buffett rule”). 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); 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 expanded cash income.
30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0055
Administration's FY 2015 Budget Proposal
Major Individual Income 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 of Tax Units 3
With Tax Cut
With Tax
Increase
11.8
11.7
4.9
4.8
4.5
7.1
5.3
5.6
0.0
0.0
0.0
6.7
0.0
0.0
*
0.0
0.2
0.0
0.0
0.0
50.9
90.6
96.2
0.6
Percent Change
in After-Tax
Income 4
0.8
0.4
0.1
0.1
0.1
0.1
0.1
0.0
-0.7
-1.1
-3.0
0.0
Share of Total
Federal Tax
Change
-27.5
-120.6
-39.7
-35.6
-28.0
-121.5
-54.4
-23.7
140.6
47.9
363.8
100.0
Average Federal Tax Change
Dollars
-57
-68
-21
-21
-22
-57
-57
-32
1,590
5,592
60,848
9
Percent
7.3
4.6
1.8
-3.0
-0.7
-0.8
-0.4
-0.1
2.3
2.8
5.7
0.2
Share of Federal Taxes
Change
(% Points)
0.0
-0.2
-0.1
-0.1
-0.1
-0.2
-0.1
-0.1
0.2
0.1
0.6
0.0
Under the
Proposal
-0.7
-4.5
-3.7
1.8
6.1
25.6
21.2
30.1
10.2
2.8
10.9
100.0
Average Federal Tax Rate5
Change
(% Points)
-0.8
-0.4
-0.1
-0.1
-0.1
-0.1
-0.1
0.0
0.6
0.8
2.0
0.0
Under the
Proposal
-12.3
-9.9
-4.6
1.9
6.2
11.8
15.6
19.4
24.7
29.4
36.6
10.9
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)
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 4
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 5
-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).
* Less than 0.05
(1) Calendar year. Baseline is current law. Proposal would (a) increase earned income tax credit for taxpayers without qualifying children by doubling maximum credit and expanding
age eligibility; (b) expand child and dependent care tax credit for qualifying children under 5; (c) limit the value of itemized deductions and certain other deductions and exclusions to
28 percent; and (d) enact the Fair Share Tax (“Buffett rule”). 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); 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 expanded cash income.
30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0055
Administration's FY 2015 Budget Proposal
Major Individual Income 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 of Tax Units 3
With Tax Cut
With Tax
Increase
0.5
0.5
1.0
2.5
3.3
5.7
6.0
5.5
*
*
0.0
3.6
0.0
0.0
*
0.1
0.2
0.1
0.1
0.1
38.1
98.1
99.3
4.8
Percent Change
in After-Tax
4
Income
0.0
0.0
0.0
0.0
0.0
0.1
0.1
0.0
-0.6
-1.3
-2.6
-0.5
Share of Total
Federal Tax
Change
0.0
-0.1
-0.1
-0.2
-0.3
-1.5
-1.3
-1.1
26.5
15.1
62.8
100.0
Average Federal Tax Change
Dollars
-2
-3
-2
-10
-15
-44
-50
-18
1,405
6,699
51,430
441
Percent
0.2
0.2
0.1
9.8
-0.7
-0.7
-0.4
-0.1
2.2
3.4
4.7
2.0
Share of Federal Taxes
Change
(% Points)
0.0
0.0
0.0
0.0
0.0
-0.1
-0.2
-0.6
0.0
0.1
0.7
0.0
Under the
Proposal
-0.1
-0.8
-0.8
0.0
0.7
4.3
6.2
28.6
24.9
9.1
27.7
100.0
Average Federal Tax Rate5
Change
(% Points)
0.0
0.0
0.0
0.0
0.0
-0.1
-0.1
0.0
0.5
1.0
1.7
0.4
Under the
Proposal
-15.6
-13.0
-6.8
-0.3
4.4
10.0
13.5
16.9
22.3
28.9
36.7
19.0
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
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
4
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
5
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).
* 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. Proposal would (a) increase earned income tax credit for taxpayers without qualifying children by doubling maximum credit and expanding
age eligibility; (b) expand child and dependent care tax credit for qualifying children under 5; (c) limit the value of itemized deductions and certain other deductions and exclusions to
28 percent; and (d) enact the Fair Share Tax (“Buffett rule”). 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); 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 expanded cash income.
30-Jun-14
PRELIMINARY RESULTS
http://www.taxpolicycenter.org
Table T14-0055
Administration's FY 2015 Budget Proposal
Major Individual Income 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 of Tax Units 3
With Tax Cut
With Tax
Increase
0.3
0.5
2.3
4.4
5.8
2.7
0.3
0.1
0.0
0.0
0.0
1.9
0.0
0.0
0.0
0.0
0.0
*
0.0
0.2
36.3
91.5
98.3
2.3
Percent Change
in After-Tax
4
Income
0.0
0.0
0.1
0.1
0.1
0.0
0.0
0.0
-0.3
-1.1
-4.5
-0.6
Share of Total
Federal Tax
Change
0.0
-0.1
-0.4
-0.7
-0.6
-0.4
0.0
0.1
7.6
7.5
87.1
100.0
Average Federal Tax Change
Dollars
-1
-2
-12
-24
-29
-10
-2
3
758
5,577
96,746
402
Percent
-0.8
-2.1
-2.1
-1.6
-1.0
-0.2
0.0
0.0
1.1
2.7
8.2
3.0
Share of Federal Taxes
Change
(% Points)
0.0
0.0
0.0
-0.1
-0.1
-0.2
-0.2
-0.6
-0.4
0.0
1.6
0.0
Under the
Proposal
0.0
0.1
0.6
1.1
1.7
6.3
7.8
21.4
19.7
8.1
33.0
100.0
Average Federal Tax Rate5
Change
(% Points)
0.0
0.0
-0.1
-0.1
-0.1
0.0
0.0
0.0
0.3
0.8
2.9
0.5
Under the
Proposal
1.3
0.6
2.2
4.0
5.8
9.0
12.5
16.3
23.1
29.9
38.6
17.6
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
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
4
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
5
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).
* 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. Proposal would (a) increase earned income tax credit for taxpayers without qualifying children by doubling maximum credit and expanding
age eligibility; (b) expand child and dependent care tax credit for qualifying children under 5; (c) limit the value of itemized deductions and certain other deductions and exclusions to
28 percent; and (d) enact the Fair Share Tax (“Buffett rule”). 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); 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 expanded cash income.