Biden's Tax Plan Calculator

Your details

Your gross wages or salary before any deductions.
USD
Self-employment income, rental income, interest, short-term capital gains, and other ordinary income.
USD
Net long-term capital gains (assets held more than one year). Biden proposed taxing these as ordinary income for households earning over $1 million.
USD
Age affects EITC eligibility. Biden proposed extending childless EITC down to age 19 (from 25).
years
Biden proposed raising the child tax credit to $3,600 per child under age 6.
Biden proposed raising the child tax credit to $3,000 per child ages 6-17.
Number of children or dependents you pay for care (daycare, after-school). Biden proposed up to $8,000 per dependent in qualified expenses.
Tax differenceNo change
$0

Positive = you pay more under Biden plan; negative = you pay less (net saving)

Current-law federal tax$14,138
Biden plan federal tax$14,138
Current effective rate0.2%
Biden effective rate0.2%
Current child tax credit$0
Biden child tax credit$0
Current EITC$0
Biden EITC$0
Current law (TCJA)$14,138
Biden's plan$14,138

Tax difference: $0

  • Federal tax owed
  • Child tax credit
  • EITC
  • Effective rate
Tax difference (Biden - current)$0

No estimated change in your federal tax

  • Your estimated federal tax would not change under the Biden plan.
  • Your income is below $400,000, so your ordinary income tax rate would not change under the Biden proposal.

Next stepThis is an estimate using simplified 2021 parameters. For a precise calculation, consult a tax professional or use the IRS withholding estimator with the final enacted rates.

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