Table 1
Racial composition of income groups and distribution of TCJA benefits and financing burden, by income percentiles
| Shares of… | Bottom Fifth | Second Fifth | Middle Fifth | Fourth Fifth | 80th-90th percentile | 90th-95th percentile | 95th-99th percentile | Top 1 percent | Total or weighted average |
|---|---|---|---|---|---|---|---|---|---|
| Total income, 2017 | 4.4 | 8.7 | 14.2 | 20.7 | 14.2 | 9.8 | 12.9 | 15.3 | 100.0 |
| White families, % of total | 59.3 | 68.7 | 74.7 | 79.6 | 83.8 | 85.7 | 89.5 | 92.7 | 73.6 |
| African American families, % of total | 24.2 | 15.8 | 12.3 | 9.3 | 7.4 | 5.6 | 2.2 | 1.3 | 13.5 |
| Hispanic families, % of total | 12.4 | 12.5 | 9.3 | 7.1 | 4.2 | 3.0 | 2.0 | 2.1 | 8.9 |
| Families of other race/ethnicity, % of total | 4.1 | 3.1 | 3.7 | 4.0 | 4.6 | 5.8 | 6.3 | 3.9 | 4.0 |
| Benefits of TCJA, House | 0.3 | 1.3 | 8.7 | 15.7 | 5.5 | 1.6 | 18.9 | 47.2 | 100.0 |
| Benefits of TCJA, Senate | -1.0 | -0.3 | 2.9 | 7.3 | 7.2 | 5.7 | 15.7 | 62.6 | 100.0 |
| Burden of financing with lump-sum taxes | 27.9 | 22.1 | 19.6 | 16.5 | 7.1 | 3.4 | 2.7 | 0.7 | 100.0 |
| Burden of financing with non-defense, non-Social Security cuts | 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
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