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New Report Details Impact of Federal Tax Cut Proposals in Washington

Posted by Andy Nicholas at Jun 22, 2012 01:45 PM |
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As campaign season moves into full swing, federal tax policy is once again in the spotlight. A new report shows that the richest one percent of Washingtonians would receive an enormous tax cut under the main proposal from U.S. House of Representatives – more than four times the cut proposed by President Obama.

Conducted by Citizens for Tax Justice, the report shows that the House proposal would cut taxes on average by $84,470 per year among the richest one percent of households in Washington state. The bottom 60 percent of households in Washington would receive an average tax cut of $570 each year.

By contrast, the proposal from President Obama would cut taxes $18,870 on average for the richest one percent of Washingtonians. The bottom 60 percent of households would receive an average tax cut of $670 per year, under the President’s proposal.

CTJ_fed_tax_cuts

Read the entire report for more information.

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