|
Proposed Tax |
To return to the Government Relations page.
To return to the description of the tax cut proposals.
The biggest piece of the White House tax cut proposal is a reduction
in the tax rates, for everyone EXCEPT those in the $12,000 to $50,000 income
category. The biggest reductions (in both rate and dollars) go to those in the
$190,000 plus category.
For an analytical look at the proposal, click here.
| Taxable Income* | < $12,000 |
$12,000 to
$51,700 |
$51,700 to $190,300
|
>$190,300
|
|||
|
Tax Years |
2001
|
15%
|
28%
|
31%
|
36%
|
39.6%
|
|
|
2002
|
12
|
15
|
27
|
30
|
35%
|
38
|
|
|
2003
|
11
|
15
|
27
|
29
|
35
|
37
|
|
|
2004
|
11
|
15
|
26
|
28
|
34
|
36
|
|
|
2005
|
10
|
15
|
26
|
27
|
34
|
35
|
|
|
2006
|
10
|
15
|
25
|
25
|
33
|
33
|
|
| Rate change, 2001 -2006 |
-2%
|
No
Change |
-3%
|
-6%
|
-3%
|
-6.5%
|
|
* Taxable income figures are adjusted for inflation; they define the margins
as of 2006. In 2001, the marginal rates are 1 - $45,200 (15%), $45,200 - $109,250
(28%), $109,250 - $166,500 (31%), $166,500 - $297,350 (36%), and over $297,350
(39.6%).
