2 bills would erase income taxes for many Americans. Here's what to know.
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Two Democratic lawmakers are proposing tax overhauls that would eliminate federal income taxes for millions of Americans. Edited by Alain Sherter In:
Two Democratic lawmakers are proposing tax overhauls that would eliminate federal income taxes for millions of Americans.
The two bills — one backed by Sen. Cory Booker of New Jersey, and the other from Sen. Chris Van Hollen of Maryland — are rolling out as Republicans tout the impact of the tax cuts enacted under the "big, beautiful bill." Those new tax breaks, which include a $6,000 deduction for senior citizens and no taxes on tips and overtime, are projected to lift the average tax refund by about $1,000 this year.
Under Booker's and Van Hollen's proposals, millions of low- and middle-income households could shield much of their income, ranging from $75,000 to $92,000 for married couples, from federal taxes.
Some policy experts have criticized the "big, beautiful bill," which President Trump signed into law last year, for primarily helping high-income households, while also cutting spending on programs that help low-income Americans, such as Medicaid and food stamps.
"We should finally have a tax code that doesn't just benefit the very wealthy like the Trump tax plan, but provides some relief to Americans who are working very hard to just make ends meet with the paycheck they've got," Van Hollen said at a press conference on Thursday to announce his proposal.
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