Biteass's Tax Proposals In A Nutshell

 

• The top individual federal income tax rate would rise from 37% to the pre-Trump rate of 39.6%.
• The corporate rate would rise from 21% to 28%; a 15% alternative minimum tax would apply to corporate book income of $100 million and higher.
• Individuals earning $400,000 or more would pay additional payroll taxes.
• The maximum Child and Dependent Tax Credit would rise from $3,000 to $8,000 ($16,000 for more than one dependent).
• Tax relief would be offered for student debt forgiveness and the first-time homebuyers credit would be restored.
• The estate tax exemption would drop by about 50%. (Currently Exempts First
• $11.7 Million)