Making Current Income Tax Rates Permanent and Adding a New Top Rate.
This bill aims to permanently secure the current income tax rates for most citizens, preventing their scheduled expiration. Crucially, it establishes a new, higher top marginal tax rate of 39.6% for the highest earners and couples. These modifications provide tax stability for middle-income brackets while increasing the tax burden on the wealthiest individuals, effective starting in 2026.
Key points
Current income tax rates (10% through 37%) are made permanent, offering financial stability for most taxpayers.
A new, highest marginal tax rate of 39.6% is created for taxable incomes exceeding specific high thresholds (e.g., $2,000,000 for joint filers).
The rules for adjusting tax brackets based on inflation are modified, using 2017 as the new base year.
Status:
Introduced
Civic Will
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens
(explained here).
Start recording it now.