Updates
PROPOSALS OUT WOULD RAISE INCOME TAXES IN 2021. SOME FAMILIES’ TAX BILLS WOULD JUMP A WHOPPING 38 PERCENT. BUSINESSES AT THE TOP TAX RATE WOULD SEE A 27 PERCENT INCREASE IN 2022.
One group of lawmakers wants to raise income taxes THIS YEAR on households making between $50,000 and $100,000 from 7.15 to 8.35 percent—a 14.4 percent increase, and for some making over $100,000, from 7.15 to 11.5 percent—a 38 percent increase.