DOVER, Del. (AP) — Democratic lawmakers in Delaware are proposing several new tax brackets that would result in higher-income individuals paying more to the state’s coffers.
The current top tax rate is 6.6% for taxable income exceeding $60,000.
A bill introduced Wednesday would apply the 6.6% rate to income between $60,000 and $125,000 and create a new rate of 7.1% for income between $125,000 and $250,000.
Those with income between $250,000 and $500,000 would pay 7.85%.
The new top rate would be 8.6% for Delawareans with taxable income of more than $500,000.
Co-sponsors of the bill include several newly elected progressive Democrats.¶
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
