The GOP’s tax plan could save $1.4 trillion in revenue, according to a new analysis.
The analysis comes from a nonpartisan group that tracks tax proposals from all the major political parties.
The plan, called the Tax Cuts and Jobs Act, would add $1,000 for every $1 in gross income up to $450,000, the analysis found.
That would raise about $1 trillion over 10 years.
The analysis comes amid a sharp drop in the GOP’s support for tax cuts and a steady uptick in support for the plan, which has attracted fierce criticism from Democrats.
House Republicans last month passed a bill that would eliminate the estate tax and phase out some tax breaks for businesses.
Senate Republicans are also working on a tax bill that could add as much as $1 Trillion to the national debt over 10 year periods.
The House GOP plan would also increase the top rate from 35% to 39.6%, raising the tax rate for individuals and couples to 39%.
It would also raise the estate and corporate tax rates by an additional 1.2% per year for individuals earning more than $1 million and for couples earning more, and would end the individual alternative minimum tax for couples who file jointly.