Presidential candidates Kamala Harris and Donald Trump have put forward a wide range of different tax proposals during this year’s campaign. We have now fully analyzed the distributional impacts of the major proposals of both Vice President Harris and former President Trump in separate analyses (see here for Harris and here for Trump).
In all, the tax proposals announced by Harris would, on average, lead to a tax cut for all income groups except the richest 1 percent of Americans, while the proposals announced by Trump would, on average, lead to a tax increase for all income groups except the richest 5 percent of Americans.
If the Harris proposals were in effect in 2026, the richest 1 percent – with incomes of $914,900 and above – would receive an average tax increase equal to 4.1 percent of their income. All other income groups would receive tax cuts, including an average tax cut equal to 2.7 percent of income for the middle fifth of Americans – with incomes between $55,100 and $94,100 – and an average tax cut equal to 7 percent of income........