U.S. Senator Tammy Baldwin has introduced a bill she says will provide tax relief for middle class Americans.
The Working American Tax Cut Act looks to provide broad, permanent tax cuts to nearly 130 million working Americans.
It eliminates federal income taxes for Americans who make under the median cost of living, about $46,000, and provides a significant tax break to individuals making between $46,000 to $80,500 , with proportionally higher rates for heads of households and married couples.
The legislation is fully paid for and avoids raising the national debt by having the wealthiest pay their fair share through a tiered surtax on income above a million dollars. Senator Baldwin said of the bill, “Our tax system is rigged to benefit the ultra-rich, and we need to change that. Our bill will cut working families’ taxes, make their paychecks go further, and give Wisconsinites well-deserved breathing room.”
The measure is co-sponsored by 13 other senators, all of whom are fellow democrats.
