🇺🇸 Conservative US lawmakers claim the Inflation Reduction Act would increase taxes for middle-class Americans. The bill does not technically include such hikes, but independent experts and reports say it could have some adverse economic impact
."But it’s enough to make the JCT distributional tables reflect tax increases among nearly all income groups in a bill where a corporate tax increase is the primary revenue source."could see lower returns from their retirement plans and other investments.
"The joint committee's analysis shows that there are a lot of people in the lower income brackets who hold shares, either directly or indirectly, in US companies," saidToder of TPC added in an email that companiesMcBride likened that effect to household taxation. "Even tax burdens that are levied directly on a household -- it could be individual income tax -- the legal incidence is somebody in the household writes the check, right?" he said."But does it not impact other people in the household?"
Still, Toder said,"the vast majority of this additional burden from higher corporate taxes falls on upper-income individuals."The JCT report does not paint a complete picture of the IRA's tax ramifications for middle-class Americans, experts told AFP.
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