Would the Lee-Rubio Tax Plan Help Lower-Income Households?
The Tax Foundation found that, on average, taxpayers in every income group would have higher after-tax incomes under Lee-Rubio, particularly low-income earners. However, the Center on Budget and Policy Priorities argues that if the current child tax credit were eliminated, the Lee-Rubio plan would reduce the after-tax income of minimum-wage income earners. The Lee-Rubio plan is short on details regarding several provisions that could make a significant difference, particularly for those between poverty and the middle class. Overall, though, low-income taxpayers will be better off under Lee-Rubio if Congress continues existing tax credits that are not discussed in the proposal, such as the earned income tax credit and the additional child tax credit.