This Portland, Oregon, couple earns close to the median household income for the U.S. Their property tax bill is $1,688; their deductible mortgage interest is $3,000; and estimated state income tax is $4,744.

The House bill’s temporary family credit helps this couple as well. Their tax savings would be about $1,216 under the House bill and $949 under the Senate bill.

Renting in Milwaukee

This married couple rents and has an estimated 2017 state income tax bill of $2,104.

Net federal tax drops by $515 for this couple under both the House and Senate bills. In general, the doubling of the standard deduction and increased tax credit will bring big benefits, in tax terms, to low earners who don’t own a home and have few assets.

This article was provided by Bloomberg News.

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