An act relating to new income tax brackets

Summary

The bill creates two additional marginal income‑tax brackets that add a 1% tax on income above $200,000 and $400,000 for single filers, and above $400,000 and $800,000 for married couples. The extra revenue would go to the Education Fund and be used to expand the property‑tax credit for households earning less than $115,000 a year. It is intended to help lower‑income families while raising money for schools.

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