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Mar 14, 2013
Analysis Shows Tax Burden for Individuals, Families Drops Under Governor Jindal’s Tax Plan

 

BATON ROUGE – The Jindal Administration released an analysis today that shows the tax burden for individuals and families will drop under Governor Jindal’s plan to eliminate income taxes. 

Under the plan, taxpayers with incomes of $20,000 or lower, will be eligible for the Family Assistance Rebate Program (FARP). FARP compensates low income households based on the impact of the increased sales tax over any benefit from the reduction of income taxes.

 

Estimated per capita tax burden impact

 

Less than $20,000

$20,000 to $29,999

$30,000 to $39,999

$40,000 to $49,999

$50,000 to $69,999

$70,000 to $79,999

$80,000 to $99,999

$100,000 and more

Individual filers

Current system ($)

             191

             640

         1,042

         1,386

         1,822

         2,428

         2,970

        7,280

Tax Reform ($)

             173

             385

             477

             569

             696

             844

             973

        2,126

Net Benefit ($)

             (18)

           (255)

           (565)

           (817)

       (1,127)

       (1,584)

       (1,997)

      (5,154)

                   

Joint
filers

Current system ($)

             220

             481

             820

         1,185

         1,701

         2,222

         2,749

        6,769

Tax Reform ($)

             195

             465

             639

             730

             869

         1,006

         1,140

        2,225

Net Benefit ($)

             (25)

             (16)

           (182)

           (455)

           (832)

       (1,216)

       (1,609)

      (4,544)

                   

 

   

 

Source: LDR estimates based on Consumer Expenditure Survey data from Bureau of Labor Statistics

 

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