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Eliminating the 'Marriage Penalty' in Income Tax Brackets

This bill aims to remove the 'marriage penalty' from the tax system. This means married couples will no longer pay higher taxes than two single individuals with the same combined income. These changes could lead to tax savings for many married couples, positively impacting their personal finances.
Key points
Married couples will be taxed as if their incomes were the sum of two single individuals, potentially lowering their overall tax burden.
The bill adjusts tax brackets for married couples to be double those for single filers.
These changes apply to tax years beginning after December 31, 2020.
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Additional Information
Print number: 117_HR_361
Sponsor: Rep. Steube, W. Gregory [R-FL-17]
Process start date: 2021-01-19