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Expectations about future tax and fee increases were mixed, with the average probability of an increase in the payroll tax rate rising to 44.9 percent from 37.7 percent a year ago, the highest level since August 2021. Also, the average perceived likelihood of an increase in state public college tuition rose to 52.2 percent, a new series high. Expectations regarding a rise in the income tax rate on the highest income bracket and in the capital gains tax rate both declined, however, to 41.0 percent and 35.8 percent, respectively. The average perceived likelihood of a year-ahead increase in the mortgage interest deduction reached a new series high of 24.8 percent, up from 21.1 percent last year.
For more details:
Press Release: SCE Public Policy Survey Shows Consumers’ Increased Optimism about Expansions of Public Assistance Programs
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