Schumer-Manchin Deal Raises Taxes On Earners Under $200,000, Study Shows
View Source | August 1, 2022 11:26 am
- The deal from Sens. Joe Manchin and Chuck Schumer would raise taxes on millions of Americans earning less than $200,000 annually, Senate Republicans say, citing nonpartisan data.
- The Congressional Joint Committee on Taxation found that taxes would jump by $16.7 billion on American taxpayers making less than $200,000 in 2023 and raise another $14.1 billion on taxpayers who make between $200,000 and $500,000.
- By 2031, new energy credits and subsidies would have people earning less than $400,000 pay as much as two-thirds of the additional tax revenue collected that year, the release said.
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