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House Democrats have proposed a marginal income tax rate of 39.6% for individuals, part of a radical change to the tax code to fund climate investments and an expansion of the safety net of individuals. United States.
This rate, an increase over the current 37% tax for wealthier taxpayers, would start for single people with taxable incomes in excess of $ 400,000, according to a legislative scheme issued Monday by the U.S. Roads and Media Committee. House.
It would also apply to married individuals who file a joint taxable income statement in excess of $ 450,000; to heads of households over $ 425,000; to married persons filing separate returns of more than $ 225,000; and estates and trusts in excess of $ 12,500.
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If the plan becomes law, the changes would begin in 2022. They would raise $ 170 billion over the next decade, according to an estimate by the Joint Tax Committee released Monday.
The current rate of 37% reaches higher income thresholds than those now proposed by House Democrats. In 2021, they apply to singles and heads of households when incomes exceed $ 523,600 and, for example, to married applicants of more than $ 628,300.
The Biden administration has also demanded a tax rate of more than 39.6%. The maximum rate would rise to this level in 2026, even if Democrats fail in their attempts to raise it in the short term, due to the provisions of the Tax Cuts and Employment Act of 2017.
The proposal is, among other things, that House Democrats aim for taxpayers to earn more than $ 400,000 a year, including higher taxes on long-term capital gains and qualified dividends and changes in the way how the rich use retirement accounts.
According to the Joint Committee on Taxation, changes in individual and corporate tax rules will raise more than $ 2 trillion over the next decade.