Sara Partridge

3 weeks ago | americanprogress.org | Emily Gee |Sara Partridge |Kyle Ross |Colin Seeberger

By contrast, the legislation would provide enormous tax giveaways for the wealthy, providing around $1.5 trillion in tax breaks for the top 5 percent of income earners. In fact, under the House Ways and Means Committee proposal, the top 0.1 percent of earners would receive around the same tax cut in aggregate as Americans in the bottom half of earners combined. A billionaire with an income in the top 0.1 percent by income would receive a tax break of $279,038.