Biden Tax Plan Calculator
Compare current vs. proposed tax rates and calculate your tax impact under Biden's plan
Tax Information
Age affects EITC eligibility
Adjusted Gross Income from your tax return
Required to receive tax credits
Eligible for enhanced child tax credit
Eligible for child tax credit
For child and dependent care credit
Tax Comparison Results
Current Tax Plan
Biden's Tax Plan
Tax Impact
Tax increase under Biden's plan
Key Changes in Biden's Tax Plan
Tax Credits Enhanced
- • Child Tax Credit: Up to $3,600 (under 6) / $3,000 (6-17)
- • EITC: Tripled for childless workers ($1,502 max)
- • CDCTC: Up to $8,000 per child ($16,000 max)
- • Expanded EITC eligibility (ages 19-24, 65+)
Tax Rates Increased
- • Top income tax rate: 37% → 39.6% (>$400k)
- • Capital gains tax: 23.8% → 43.4% (>$1M)
- • Corporate minimum tax: 15%
- • Carried interest loophole closed
Example Impact
Family of 4
Income: $75,000
Children: 2 (ages 4, 8)
Current tax: $4,200
Biden plan tax: $1,600
Savings: $2,600
High Earner
Income: $500,000
Single filer
Current tax: $147,037
Biden plan tax: $152,637
Increase: $5,600
Important Notes
Many proposals require Congressional approval
Tax credits are fully refundable under Biden's plan
No tax increases for families earning under $400k
High earners and corporations face increased rates
Understanding Biden's Tax Plan
Who Benefits?
- •Families with children (enhanced Child Tax Credit)
- •Low to moderate income workers (expanded EITC)
- •Working parents (increased childcare credit)
- •Young workers (19-24) and seniors (65+)
Funding Sources
- •Higher taxes on incomes over $400,000
- •Increased capital gains tax for millionaires
- •Corporate tax rate changes
Tax Credit Changes
Child Tax Credit
Current: $2,000 per child
Biden's Plan: $3,600 (under 6), $3,000 (6-17)
Earned Income Tax Credit
Current: $534 max (childless)
Biden's Plan: $1,502 max + expanded eligibility
Child Care Credit
Current: $3,000 per child max
Biden's Plan: $8,000 per child max