List: How Tax Increases Will Affect Households
The tax package passed by Congress will prevent one set of tax increases from hitting the vast majority of Americans, but it won't stop them all.
A temporary Social Security payroll tax reduction is expiring, hitting nearly every wage earner, and income taxes on the wealthy are going up too.
How the tax increases will affect households at different income levels:
Annual income: $20,000 to $30,000
- Average tax increase: $297
Annual income: $30,000 to $40,000
- Average tax increase: $445
Annual income: $40,000 to $50,000
- Average tax increase: $579
Annual income: $50,000 to $75,000
- Average tax increase: $822
Annual income: $75,000 to $100,000
- Average tax increase: $1,206
Annual income: $100,000 to $200,000
- Average tax increase: $1,784
Annual income: $200,000 to $500,000
- Average tax increase: $2,711
Annual income: $500,000 to $1 million
- Average tax increase: $14,812
Annual income: More than $1 million
- Average tax increase: $170,341
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