Distribution of overall income, TCJA benefits and burden of financing, by income and racial groups
| Overall income | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Bottom Fifth | Second Fifth | Middle Fifth | Fourth Fifth | 80th-90th percentile | 90th-95th percentile | 95th-99th percentile | Top 1 percent | Total | |
| White | 2.6 | 6.0 | 10.6 | 16.5 | 11.9 | 8.4 | 11.5 | 14.1 | 81.5 |
| African American | 1.1 | 1.4 | 1.7 | 1.9 | 1.1 | 0.5 | 0.3 | 0.2 | 8.2 |
| Hispanic | 0.5 | 1.1 | 1.3 | 1.5 | 0.6 | 0.3 | 0.3 | 0.3 | 5.9 |
| Other | 0.2 | 0.3 | 0.5 | 0.8 | 0.7 | 0.6 | 0.8 | 0.6 | 4.4 |
| Total | 4.4 | 8.7 | 14.2 | 20.7 | 14.2 | 9.8 | 12.9 | 15.3 | 100.0 |
| Benefits of TCJA, House | |||||||||
| Bottom Fifth | Second Fifth | Middle Fifth | Fourth Fifth | 80th-90th percentile | 90th-95th percentile | 95th-99th percentile | Top 1 percent | Total | |
| White | 0.2 | 0.9 | 6.5 | 12.6 | 4.6 | 1.4 | 17.0 | 44.1 | 90.3 |
| African American | 0.1 | 0.2 | 1.1 | 1.5 | 0.4 | 0.1 | 0.4 | 0.6 | 2.6 |
| Hispanic | 0.0 | 0.2 | 0.8 | 1.1 | 0.2 | 0.0 | 0.4 | 1.0 | 3.0 |
| Other | 0.0 | 0.0 | 0.3 | 0.6 | 0.3 | 0.1 | 1.2 | 1.9 | 4.1 |
| Total | 0.3 | 1.3 | 8.8 | 15.8 | 5.5 | 1.6 | 19.1 | 47.6 | 100.0 |
| Benefits of TCJA, Senate | |||||||||
| Bottom Fifth | Second Fifth | Middle Fifth | Fourth Fifth | 80th-90th percentile | 90th-95th percentile | 95th-99th percentile | Top 1 percent | Total | |
| White | -0.6 | -0.2 | 2.2 | 5.8 | 6.0 | 4.9 | 14.0 | 58.0 | 90.1 |
| African American | -0.2 | 0.0 | 0.4 | 0.7 | 0.5 | 0.3 | 0.4 | 0.8 | 2.8 |
| Hispanic | -0.1 | 0.0 | 0.3 | 0.5 | 0.3 | 0.2 | 0.3 | 1.3 | 2.7 |
| Other | 0.0 | 0.0 | 0.1 | 0.3 | 0.3 | 0.3 | 1.0 | 2.5 | 4.4 |
| Total | -1.0 | -0.3 | 2.9 | 7.3 | 7.2 | 5.7 | 15.7 | 62.6 | 100.0 |
| Burden of lump-sum financing | |||||||||
| Bottom Fifth | Second Fifth | Middle Fifth | Fourth Fifth | 80th-90th percentile | 90th-95th percentile | 95th-99th percentile | Top 1 percent | Total | |
| White | 16.5 | 15.2 | 14.6 | 13.1 | 6.0 | 2.9 | 2.4 | 0.6 | 71.4 |
| African American | 6.7 | 3.5 | 2.4 | 1.5 | 0.5 | 0.2 | 0.1 | 0.0 | 15.0 |
| Hispanic | 3.5 | 2.8 | 1.8 | 1.2 | 0.3 | 0.1 | 0.1 | 0.0 | 9.7 |
| Other | 1.2 | 0.7 | 0.7 | 0.7 | 0.3 | 0.2 | 0.2 | 0.0 | 3.9 |
| Total | 27.9 | 22.1 | 19.6 | 16.5 | 7.1 | 3.4 | 2.7 | 0.7 | 100.0 |
| Burden of financing by cuts in non-defense, non-Social Security spending | |||||||||
| Bottom Fifth | Second Fifth | Middle Fifth | Fourth Fifth | 80th-90th percentile | 90th-95th percentile | 95th-99th percentile | Top 1 percent | Total | |
| White | 10.3 | 14.6 | 15.1 | 14.3 | 7.4 | 4.2 | 4.5 | 4.0 | 74.5 |
| African American | 4.2 | 3.4 | 2.5 | 1.7 | 0.7 | 0.3 | 0.1 | 0.1 | 12.8 |
| Hispanic | 2.2 | 2.7 | 1.9 | 1.3 | 0.4 | 0.1 | 0.1 | 0.1 | 8.7 |
| Other | 0.7 | 0.7 | 0.7 | 0.7 | 0.4 | 0.3 | 0.3 | 0.2 | 4.0 |
| Total | 17.4 | 21.3 | 20.2 | 18.0 | 8.9 | 4.9 | 5.0 | 4.4 | 100.0 |
Source: Author's analysis using data from the Tax Policy Center, Congressional Budget Office, and Survey of Consumer Finances, as described in text.