The Tax Policy Center on Monday retracted its assessment of House Republicans' tax bill after discovering an error in its model, a mistake that will complicate the effort to evaluate the legislation by for an organization that has long enjoyed broad, bipartisan credibility.
"TPC staff found an error in the preliminary distributional analysis of the Tax Cut and Jobs Act (TCJA) that we released today. This error involved the additional child tax credit component of the proposed legislation," the organization said in a statement Monday night, several hours after releasing its report that showed the benefits of the tax bill were skewed toward the richest Americans.