WASHINGTON - A new District-by-District analysis showing the number of households making $1 million-plus - compared with overall number of households - in every Republican Congressional district in the country illustrates just how few wealthy households Republicans are fighting on behalf of at the expense of the vast, vast majority of families in their districts. The data illustrates the extremes to which Congressional Republicans are willing to go to extend tax cuts for the very wealthy and hold up a middle class tax cut extension. In Speaker John Boehner’s district, alone, there are 144 households with incomes above $1 million - out of 303,550 households. (Link to full list below)
Under the Democratic proposal, every taxpayer in the country would continue to receive a tax cut on the first $250,000 of their income. Under the Republican plan, more than 80 percent of the benefit of the tax cuts for households making more than $250,000 goes to households making more than $1 million.
“There could hardly be a clearer illustration of Republicans’ misplaced priorities," said Ways and Means Committee Ranking Member Sander Levin (D-MI). “Instead of putting middle class families first, Republicans continue to insist that a very small number of very wealthy households receive enormous tax cuts and not contribute a dime toward deficit reduction."
QUICK FACTS ON GOP PROPOSAL:
81% of the extension of the high-income tax cuts (for households earning more than $250,000) goes to households making $1 million-plus.
374,000 households with incomes above $1 million reap an average $160,000 cut under the Republican plan.
25 million families face an average $1,000 tax increase under the GOP plan to vastly curtail the Earned Income Tax Credit and Child Tax Credit and end completely the American Opportunity Tax Credit.
*SEE FULL LIST OF GOP DISTRICT-BY-DISTRICT NUMBERS (Data reflective of ’09 IRS Tax Returns)*
