The Tax Cuts and Jobs Act (TCJA), implemented in 2017, promised significant tax relief for individuals and businesses. AngelouEconomics assessed its impact on Texas households and revealed mixed outcomes. While reducing income tax rates and increasing the standard deduction saved households $59.5 billion through 2025, the repeal of personal exemptions increased tax burdens by $100.5 billion.
The analysis found that mid-income households benefited most, while lower-income brackets saw tax increases after 2021. Additionally, capping deductions for mortgage interest and property taxes weakened home-buying incentives, potentially stunting real estate growth. The TCJA’s nuanced impact highlighted the importance of balanced reforms to ensure equitable benefits.
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