URPL-GP.4638.001 - Robert F. Wagner Graduate School of ...

The CRS noted that individual income taxes fell from 9.6 to 9.2 percent, sharply contrasting the more than 20-point fall of corporate tax rates. As illustrated in Figure 3, most of the individual tax breaks went to the wealthy with incomes over $500,000. The tax code did also limit deductions to $10,000 in state and local property taxes (SALT). ................
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