Florida Policy Institute: 4 Things That Floridians Should Know About the US House Reconciliation Bill

Florida Policy Institute: 4 Things That Floridians Should Know About the US House Reconciliation Bill

As the Institute on Taxation and Economic Policy notes, the top 1 percent of Floridians (those with income of more than $1.1 million annually) would receive an average tax cut of $86,320 in 2026. As a share of the tax cuts, in 2026, the top 1 percent would receive 25 percent of the total tax cuts. In comparison, the 60 percent of Floridians who make between $0 and $77,600 would see an average benefit of $80 to $1,540, or 12 percent of the total …