https://nypost.com/2022/07/31/senate-gop-argues-data-shows-schumer-manchin-deal-raises-taxes-on-earners-under-400k/
Schumer-Manchin deal raises taxes on earners under $400K, study shows
The energy and health care deal from Sens. Joe Manchin and Chuck Schumer would raise taxes on millions of Americans earning less than $400,000 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.
During the 10-year window, the average tax rate would go up for most income categories, the Senate GOP said, citing the data from the joint committee. And 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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Manchin, in touting the bill, said it “would dedicate hundreds of billions of dollars to deficit reduction by adopting a tax policy that protects small businesses and working-class Americans while ensuring that large corporations and the ultra-wealthy pay their fair share in taxes.”
He said on CNN Sunday the bill is “not putting a burden on any taxpayers whatsoever.”
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