Thursday, Representative Jeff Denham voted “Yea” on the tax scam bill in the House of Representatives. Below is how this may affect you based on your household earnings. Keep in mind that Jeff falls into the last tax bracket, so he will see a decrease in what he pays in taxes.
▪ 28 percent of California households would see their taxes increase in 2027 by $4,180 on average.
▪ 24 percent of households making from $39,390 to $68,690 would see their taxes increase by $970 on average.
▪ 27 percent of households making from $68,690 to $109,160 would see their taxes increase by $1,610 on average.
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▪ 39 percent of households making between from 109,160 to $186,900 would see their taxes increase by $2,780 on average.
Meanwhile, the tax cut for California's richest 1 percent will be $27,100 a year, on average.
This seat is up for re-election next November, I would hate to keep our current occupant remain in the House any longer than that – I don’t think we can afford him!
To check out my numbers or for more information, check out The Institute on Taxation and Economic Policy at www.itep.org.
Robin Cole, Tracy