In order to help offset the $3.5 trillion domestic investment plan, House Democrats are proposing tax hikes in several areas. See below for some of the highlights:
- Increase the top corporate tax rate to 26.5%
- Increase the top individual tax rate to 39.6%
- 3% additional tax surcharge on individual income above $5 million
- Increase capital gains tax rate to 25%
Keep an eye on these proposals as you are likely to see them morph and change several times before they become law.