Plus, a side-by-side comparison of the impact of each candidate’s plan

1. The Harris proposals would, on average, raise taxes on the richest 1% of households – with incomes of $914,900 and above – by 4.1% of their income.
2. Other income groups would receive tax cuts on average, including an average tax cut of 7.0% for the poorest fifth of Americans – with incomes less than $28,600 – and an average tax cut of 2.7% for the middle fifth of Americans (those with incomes between $55,100 and $94,100).
3. The distribution of Harris’ plan stands in stark contrast to the impact of the tax proposals announced by former President Trump, which would, on average, lead to a tax cut for the richest 5 percent of Americans and a tax increase for all other income groups.
4. Harris’ plan accomplishes this with targeted revenue raisers on corporations and wealthy households, as well as tax cuts for broad swaths of Americans and targeted tax credits for lower- and middle-income families.