I've had a chance to skim through bits and pieces and read some articles about it. At 2700 pages and a LOT of it is repetitive it's nearly impossible to read through word for word, but not all that hard to skim or search for relevant thing. They use the phrase "any taxpayer the annual household income of whom is less than $400,000 per year" in quite a few places. I haven't found the exact tax rate changes yet. As with most of these bills it's a lot of grants and pet projects. A huge bit of it is screwing with highway codes and such, I have a feeling there's some truth to their whole concept of taxing the shit out of driving in some way at least.
If any of the articles I read are accurate, they are increasing the corporate tax rate, the top IRS tax bracket, and the top capital gains tax rate. Hence using the word "direct" regarding tax hikes. These all trickle down but aren't going to directly impact how much an average sub-400k person pays in federal taxes. You know, the number they see on their 1040. It's just trickery on their part really because it's not like their evil rich people are going to pay the brunt of any tax increases.
I have not read it. Are they saying 400k per person or family income?
I've had a chance to skim through bits and pieces and read some articles about it. At 2700 pages and a LOT of it is repetitive it's nearly impossible to read through word for word, but not all that hard to skim or search for relevant thing. They use the phrase "any taxpayer the annual household income of whom is less than $400,000 per year" in quite a few places. I haven't found the exact tax rate changes yet. As with most of these bills it's a lot of grants and pet projects. A huge bit of it is screwing with highway codes and such, I have a feeling there's some truth to their whole concept of taxing the shit out of driving in some way at least.
I'm referencing H.R. 3684 by the way https://www.congress.gov/bill/117th-congress/house-bill/3684/text
If any of the articles I read are accurate, they are increasing the corporate tax rate, the top IRS tax bracket, and the top capital gains tax rate. Hence using the word "direct" regarding tax hikes. These all trickle down but aren't going to directly impact how much an average sub-400k person pays in federal taxes. You know, the number they see on their 1040. It's just trickery on their part really because it's not like their evil rich people are going to pay the brunt of any tax increases.