Biden’s broken promise: Build Back Better will force 30% of middle class families to pay higher taxes – breaking president’s vow to only tax the super-rich, analysis finds
- Tax Policy Center analysis finds some middle class taxpayers would pay more
- Increases would be modest, and the average household would not pay more
- But Biden has vowed nobody making under $400,000 would see an increase
- His spending bill is currently being scored by Congressional Budget Office
President Joe Biden‘s Build Back Better plan could raise taxes modestly for some middle-class households, despite his vow that anyone making less than $400,000 would not see an increase, according to a new analysis.
‘Taking into account all major tax provisions, roughly 20 percent to 30 percent of middle-income households would pay more in taxes in 2022. However, their tax increases would be very small,’ non-partisan Tax Policy Center wrote in a report.
‘Among those with a tax increase, low- and middle-income households would pay an additional $100 or less on average. Those making $200,000-$500,000 would pay an average of about $230 more,’ the report added.
The analysis found that, even if some households saw a modest increase, the average lower- and middle-income household would see an overall decline in their taxes.