Obama Budget Raises Taxes for 1 in 4 Americans


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A nonpartisan research group estimates that President Barack Obama’s budget would raise taxes next year on 1 in 4 households, but have little impact on families earning under $200,000 a year.

The Tax Policy Center analysis also says about 1 in 8 households would get tax cuts.

The study says families earning less than $200,000 would experience tax cuts or increases averaging under $60 a year. The figures rise dramatically for better-off families, with those making over $1 million getting an average tax boost of $179,000.

Read more at Official Wire. By the Associated Press.


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