Biden and many Democrats in Congress have argued that their plan to raise taxes in the midst of an economic recovery is justified because it would help offset or reverse important elements of the Republican tax reform passed in 2017. Democrats have long claimed that the Tax Cuts and Jobs Act needs to be repealed or heavily altered because it unjustly benefits the wealthy at the expense of working and middle-class families.

However, the most recent personal income tax data from the IRS prove that this claim is completely false. The 2017 tax law has disproportionately benefited lower- and middle-income working families. The data show the law has also led to substantial improvements in economic mobility for middle-income and upper-middle-income households. READ MORE