ITHACA, NY (607NewsNow) – Senator Kirsten Gillibrand is fighting rising costs in America.
On March 16, Gillibrand and others introduced the Working Americans’ Tax Cut Act.
If passed, it would permanently eliminate federal income taxes for people making under $46,000, which is the median cost of living, and provide significant breaks for those making up to $80,500, with proportionally higher rates for heads of households and married couples.
“Families are struggling amidst higher costs in Trump’s America,” Gillibrand said. “I’m proud to co-sponsor the Working Americans’ Tax Cut Act to support working families, drive economic growth, and reduce income inequality.”
According to Gillibrand’s Office, the legislation is “paid for” and would avoid increasing national debt through a tiered surtax on income above $1 million. Virginia Representative Don Beyer introduced companion legislation in the U.S. House of Representatives.
You can read the full text of the bill here. It’s cosponsored by senators in Maryland, Arizona, New Jersey, Illinois, Vermont, Oregon, Delaware, Connecticut, Hawaii, Wisconsin, New Mexico, Maine, Massachusetts, and California.
Gillibrand says the bill would provide tax cuts to nearly 130 million working Americans.
