How Much Is Your Tax Cut?

Use Our Calculator to Find Out

March 13, 2009

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As part of his 2010 budget, President Barack Obama has proposed extending the “Making Work Pay” tax credit, a permanent payroll tax reduction for workers and their families.

This tax cut would be financed by making companies pay for their greenhouse gas emissions and eliminating tax breaks for dirty energy—capping pollutants at a sustainable level while returning money to working Americans.

Enter how much you make each year in the calculator below to find out how big your tax cut would be.

Note: The Making Work Pay tax credit is a refundable tax credit of $400 for working individuals and $800 for married couples filing joint returns. The full value of the credit is given to individuals with adjusted gross income of less than $75,000 and couples making less than $150,000. The value of the credit is phased out for individuals making between $75,000 and $95,000 and couples making between $150,000 and $190,000. Those making more will not receive the Making Work Pay tax credit.