Middle-range income earners in Georgia ranked 49th in the nation in terms of how they benefited from the federal Tax Cuts and Jobs Act, according to a new Tax Foundation analysis.
An interactive tool on the foundation’s website shows the average size of the 2018 tax cuts among specified income levels in each state’s congressional district. The 2017 federal tax reforms cut tax burdens for most Americans and may help to raise wages by improving the business climate nationwide, the foundation said.
The number of jobs added last year in Georgia as a result of the income tax cuts was estimated to be 6,526. The average income tax cut for those in the state who earned between $50,000 and $75,000 annually was $1,262.17, according to the analysis.
The size of individuals’ tax cuts varies greatly depending on annual income levels. The online tool allows readers to track seven levels of average adjusted gross incomes, from $10,000 and under to $200,000 and up.
Impact of Tax Cuts and Jobs Act by State
|State||Estimated Jobs Added in 2018||Average Tax Cut (for Incomes of $50,000-$75,000)||Tax Cut Rank|
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