A report released Wednesday shows the richest 1 percent of Arizona residents would get the majority of the tax cuts proposed under the president’s reform framework.

The Institute on Taxation and Economic Policy calculated how many Arizonans in each income bracket, ranging from poorest to highest, would see a change in their taxes owed.

The report says the tax proposal would be generous to the wealthy mostly because it reduces the corporate tax rate.

In Arizona, that means those with incomes starting at $470,200 would get more than half of the tax cuts in the state.

Those 0.4 percent of Arizonans would see almost $60,000 cut from their taxes.

The middle class — those making $38,200 to $61,000 a year, as the report defines it — would receive an average tax cut of $150. The next bracket up, also considered middle class in Maricopa County, would see an average tax cut of more than $700.