Category: Policy Paper

Originally published at Pennsylvania Policy Center on October 31, 2024. by Marc Stier If the federal government in Donald Trump’s potential second term were to adopt the tax proposals in Project 2025, low- and moderate-income Pennsylvanians would pay far more in taxes than they do now and the top 1% would pay much less. That should worry Pennsylvanians. For, if we follow the letter of what Project 2025 proposes, a family of four at the state median family income level of $119,000 would pay an additional $7,167 in taxes. And a family of four with an annual income of $50,000 would pay an additional $7,031 in federal taxes. But a family of four that just breaks into the top 1% of Pennsylvania families, with $750,000 in income, would pay $12,675 less in federal taxes. If, contrary to what Project 2025 explicitly says, we assume that earned income and child tax… Continue reading