Middle-income taxpayers fared better than millionaires from the 2017 GOP tax overhaul, according to data recently released by the IRS.
Taxpayers earning less than $100,000 saw double-digit percentage decreases in total tax liabilities between 2017 and 2018, the year after tax reform was enacted. Millionaires, on the other hand, saw single-digit decreases over the same time period, according to analysis from the conservative pro-tax cut organization Americans for Tax Reform.
While middle-income earners were the clear winner in terms of percentage declines in tax liability, millionaires received a larger break in terms of dollars.
The average tax liability of millionaires was reduced by roughly $54,000 between 2017 and 2018. Middle-income earners only saw declines ranging from $1,200 to $330.
There is typically a lag of a few years for IRS tax data. The 2018 tax year is the most recent for which data is available.
