Featured image for article

Setting Tax Priorities, Simplifying The Tax Code

How might you be impacted by tax proposals in the House and Senate budget plans? JLF's Joe Coletti takes a look.

The franchise tax. The sales tax. The corporate income tax. The personal income tax. JLF’s Joe Coletti analyzes tax reform proposals in the House and Senate budget plans. For example:

Both budget proposals would increase the standard deduction available to taxpayers. The Senate’s plan would raise the amount for married couples filing taxes jointly to $20,000 (from $17,500), for head of household to $15,000 (from $14,000), and for single or married filing separately to $10,000 (from $8,750). The House proposes standard deductions of $18,500, $14,800, and $9,250, respectively. This increase may not provide as much economic benefit as a reduction in business tax rates, but it would go directly to families and have more effect on families with lower incomes.

Read Joe’s analysis here.

Donna Martinez / VP of Marketing and Communications

Donna came to the John Locke Foundation in January 2003 after freelance writing for Carolina Journal and contributing to projects for the North Carolina Education Alliance. He...

Reader Comments