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Posted on 03/09/2026 2:41:23 PM PDT by DFG
U.S. Sen. Cory Booker (D-N.J.) announced legislation on Monday to eliminate federal income taxes on the first $75,000 of income.
The ‘Keep Your Pay Act’ would raise the standard deduction to $75,000 for married couples filing jointly, with proportional amounts for single filers and heads of household.
The measure would cut federal income tax on the median American family by an estimated 85%.
“New Jerseyans are working harder than ever, but they’re struggling to get by because they’re facing out-of-control costs and an economy that is stacked against them — so we need big ideas to start making the American Dream possible for everyone again,” Booker wrote in a statement unveiling his bill. “No income tax on the first $75,000 families earn would be a game changer for working people.”
“This tax cut would immediately put more money in your pocket every month to deal with the high price of everyday expenses, an unexpected emergency, or to plan for the future,” he added.
The bill would offset costs by raising the corporate tax rate, increasing taxes on stock buybacks, tightening executive compensation deductions, and strengthening corporate tax enforcement to generate more revenue from corporations and wealthy individuals.
“This plan can be fully paid for by unrigging our tax system – so that the wealthiest few and the biggest corporations that are getting rich by keeping prices high finally start paying their fair share,” Booker’s statement added. “This idea will ensure Americans who work for a living keep more of their paychecks, help restore tax fairness, and start making America a country where working people can get ahead again.”
The proposal also would expand the Child Tax Credit to $3,600 per child ages 6 to 17 and $4,320 for children under 6, with a fully refundable $2,400 “baby bonus” in the year of a child’s birth. It would triple the Earned Income Tax Credit and broaden eligibility to workers ages 19 to 24 and 65 and older without children at home.
Booker launched an online calculator for individuals to estimate potential tax savings under the plan.
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Must be midterms time.
Grrr. No. Everyone needs skin in the game. No Freeloaders so no one to vote for higher taxes on the higher earners. If a tax increase is proposed, everyone should feel and fear that.
State and local taxes are hanging around every neck in Joysey like a ten ton anchor. Federal taxes ain’t got much ado wit it.
Can we eliminate Spartacus’s ass first? I wish that clown would go back to doing Sitcoms For Idiots.
I am Taxicus!
No lie. They tax everything.
Dems must know they are in trouble.
Wow. T-Bone should have been here too! Life ain’t fair.
Hell NO!
The so called low income maggots don’t pay any taxes now. They all need to pay taxes.
Pandering to the consumers instead of the producers.
Any tax on income punishes productivity, and it forces business decisions based on tax avoidance instead of efficiency.
That’s because Trump is planning to make it $150,000.
If that is true, why does half the country pay NO Fed income tax?
Oh the dems will be all for it, but coincidently the vote will come just a day after the midterms and even after all their support and claims of backing it the votes will dry up like the Sana Anna winds, like it was written in stone.
No Dem proposes a tax cut in an election year and means it, Booker is just begging for votes is all it is. What Republicans need to do is counter it with an even bigger cut to call their bluff.
No sale.
Yep. In addition, do a flat rate tax of 10%. No deductions except for charitable giving. And absolutely no government borrowing unless we have a declared war.
Yeah. Sure, Jan.
Trump wants to eliminate Federal income tax, so incument Dems glom onto the idea in an election year. Talk is cheap, Cory.
How about a flat tax, Booker, so everyone has skin in the game?
Looks like Gory Booger wants to create a majority of Americans who have no financial stake in limiting the size, scope, power, and COST of government.
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