The deal would raise the tax rate on those earning more than $1 million per year to 10.75% from 8.97% while providing a rebate up to $500 to households earning less than $150,000 if they have a child. The income cap for single-parent households would be $75,000. Previously, the 10.75% rate had applied only to those earning more than $5 million.
>The deal would raise the tax rate on those earning more than $1 million per year to 10.75% from 8.97% while providing a rebate up to $500 to households earning less than $150,000 if they have a child. The income cap for single-parent households would be $75,000. Previously, the 10.75% rate had applied only to those earning more than $5 million.
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