Income Extremes Reap Most Benefit From Tax Breaks: CBO
The highest-income and lowest-income households receive the most benefit from 10 of the largest U.S. tax breaks, according to a Congressional Budget Office report released today.
Households in the bottom 20 percent of U.S. income distribution receive 11.7 percent of their after-tax income from the breaks, relying on benefits such as the earned income tax credit.
On the other end of the income scale, those in the top 20 percent receive 9.4 percent of after-tax income from