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:

  1. Increase the top corporate tax rate to 26.5%
  2. Increase the top individual tax rate to 39.6%
  3. 3% additional tax surcharge on individual income above $5 million
  4. 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.

Posted in Taxes

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