{"database": "press", "table": "releases", "rows": [["https://www.crapo.senate.gov/media/newsreleases/jct-democrats-proposals-increase-taxes-on-millions-of-americans", "JCT: Democrats\u2019 Proposals Increase Taxes on Millions of Americans", "2022-07-30", "2022", "2022-07", "Republican", "Senate", "ID", "Mike Crapo", "C000880", "www.crapo.senate.gov", "crapo", "https://www.crapo.senate.gov/media/newsreleases", "scraper", "Washington, D.C.--The nonpartisan Joint Committee on Taxation (JCT)estimates the Democrats\u2019 latest reckless tax-and-spend proposal will increase taxes on millions of Americans across every income bracket, with more than half of the tax increases on Americans making less than $400,000 per year.\n\n\u201cWhile Republicans\u2019 pro-growth tax reform in 2017 reduced tax rates for all Americans in a way that increased the progressivity of the tax code and produced historic gains in job and wage growth, the Democrats\u2019 approach to tax reform means increasing taxes on low- and middle-income Americans to fund their partisan Green New Deal,\u201d said U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho), who requested the analysis. \u201cAmericans are already experiencing the consequences of Democrats\u2019 reckless economic policies. The mislabeled \u2018Inflation Reduction Act\u2019 will do nothing to bring the economy out of stagnation and recession, but it will raise billions of dollars in taxes on Americans making less than $400,000.\u201d\n\nAccording to JCT:\n\nIn 2023, taxes will increase by $16.7 billion on American taxpayers earning less than $200,000\u2014a nearly $17 billion tax targeted solidly at low- and middle-income earners next year, amidst stagflation.\n\nThe $17 billion hit alone is confirmation that the Biden pledge to not raise taxes on anyone earning less than $400,000 is shattered by the latest tax-and-spend bill.\n\nThe proposal would raise another $14.1 billion from taxpayers earning between $200,000 and $500,000.\n\nAccording to JCT data, 98 percent of all tax returns filed by those in the $200,000 to $500,000 category are filed by those earning between $200,000 and $400,000, with at least three-fourths of the income in the $200,000 to $500,000 category also coming from those below $400,000, meaning it is likely that at least half of all new tax revenue raised next year would come from those earning under $400,000.\n\nThroughout the ten-year window, the average tax rate for nearly every single income category would increase.\n\nBy 2031, when the new green energy credits and subsidies provide an even greater benefit to those at higher incomes, those earning below $400,000 are projected to bear as much as two-thirds of the burden of the additional tax revenue collected that year.\n\n\u201cThe more this bill is analyzed by impartial experts, the more we can see Democrats are trying to sell the American people a bill of goods,\u201d Crapo continued. \u201cNon-partisan analysts are confirming this bill raises taxes on the middle class and produces no meaningful deficit reduction when gimmicks are removed and the full cost is accounted for. It\u2019s no wonder this bill, which was drafted behind closed doors, is being rushed through the Senate at record pace.\u201d\n\nTo view JCT\u2019s distributional analysis, click here. To view JCT\u2019s revenue table, click here.\n\n###", 1, "2026-03-30T01:40:41Z", "2026-04-08T02:49:02Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://www.crapo.senate.gov/media/newsreleases/jct-democrats-proposals-increase-taxes-on-millions-of-americans"], "units": {}, "query_ms": 1.6326657496392727, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}