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US Tax Bill Costs Corporations Nearly $300 Billion More, While Middle Class Pays Less

  • Companies to pay $296 billion more in levies over a decade
  • Households earning $500,000 face 1% increase in tax burden
   

   

Source: Getty Images

Corporations will pay nearly $296 billion more in US federal taxes over the next decade, and middle-income households will see some tax cuts, under the tax-and-climate bill that is likely to become law in the coming days.

That’s the takeaway from analysis released Tuesday by the Congressional Joint Committee on Taxation.