On Friday the House is expected to vote on the GOP’s 2.0 tax plan which doubles down on the 2017 tax law’s flaws: tilted in favor of top 1%, loses large revenue right when youngest baby boomers become SS-eligible, and invites tax games. Charts to follow.
The House GOP’s 2.0 tax plan ignores the decades’ long stagnation of working class wages and the substantial upward shift in income: 
The House GOP’s 2.0 tax plan exacerbates this upward income shift as it delivers roughly double the income gain to the top 1% than it does for the bottom 60%:
A main reason the House GOP’s 2.0 tax plan is so tilted in favor of the wealthiest is that it includes a large tax cut for “passthrough” income such as real estate partnerships. Such income is heavily concentrated at the very top:
Most people pay taxes out of their bi-weekly paychecks, while wealthy people can go through life and pay little or no tax on their capital gains income. Exacerbating this unfairness, the GOP 2.0 tax plan makes it easier for wealthy heirs to inherit money tax-free:
Meanwhile, both the new tax law & the GOP’s 2.0 tax plan do not do much for low- and moderate-income working-class families. The GOP's widely touted increase in the Child Tax Credit is denied in part to 26 million children in families with parents who earn low wages:
Given the wage stagnation, it is sadly remarkable that GOP has not expanded the EITC -- a pro-work success story that boosts the incomes of people who care for the elderly, cook the meals, & drive the trucks. Below juxtaposes an EITC expansion and the 2017 tax law:
Turning to its fiscal implications, the revenue losing House GOP’s 2.0 tax plan takes effect in the year that the youngest baby boomers will turn 62 and become eligible for Social Security and the oldest baby boomers will turn 80:
The House GOP's 2.0 tax plan costs $631 billion over the 2019 to 2028 budget window and $250 billion in 2027 alone:
Lastly, like the new tax law, the GOP’s 2.0 tax plan invites rampant tax gaming. For example, the passthrough deduction creates an incentive for wealthy people to reclassify as much of their salary income as passthrough income as possible:
