Average rates dropped in 2018, but they’ll return to 2017 levels by 2026
15%
14.3%
Tax bill
14
13.4%
13
12
12.1%
11
2024
2025
2017
2018
2019
2021
2023
2026
2020
2022
Source: Source: Tax Policy Center estimates
Note: Average federal tax (includes individual and corporate income tax, payroll taxes for Social Security and Medicare, the estate tax, and excise taxes) as a percentage of average expanded cash income.
And, the cuts for middle-class wage earners fade over time. By 2026, changes to individual tax rules expire, while corporate changes are permanent. Unless Congress acts, 53 percent of all taxpayers will see a modest tax hike by 2027, the Tax Policy Center says, including almost 70 percent of middle-income families.