The T Word: Senate tax plan proposes $2 billion-plus in income tax hikes

Live from room 15 of the Capitol:

The Senate Taxes Committee omnibus bill has just been passed around the room. It’s keynoted by a wholesale reworking of the state’s income tax rates that’s supposed to start in 2009 and blink off in tax year 2014.

The current 5.35 percent bracket goes to 6 percent; the current 7.05 percent bracket moves to 7.7 percent; the 7.85 percent bracket is hiked to 8.5 percent; and a new fourth bracket at 9.25 percent is added on adjusted household gross incomes over $250,000 (or $141,250 for unmarried filers).

One Response to “The T Word: Senate tax plan proposes $2 billion-plus in income tax hikes”

1. SarahJanecek Says:
   April 21st, 2009 at 8:22 am

   Across the board increases that would hit the middle class.