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Reason
Reason
Politics
Eric Boehm

A Taxpocalypse of Rising Rates Is Coming For Americans if Congress Doesn't Act

Income Tax Tax Cuts Deficit Tax Foundation
A chart showing changes to rates if the 2017 tax cuts are not extended
All numbers based on the Tax Foundation's calculator, assuming standard deduction and excluding Social Security income. (Illustration: iStock)

When the new session of Congress opens on January 3, the clock will already be ticking toward the most important set of fiscal decisions lawmakers will make this decade.

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