Here’s what is being considered:
- Replace the flat 21% corporate tax rate with a progressive rate structure from 18% up to 26.5%.
- Increase the top individual income tax to 39.6% for individuals making more than $400,000 and married couples filing jointly making more than $450,000.
- Increase the capital gains tax rate to 25% for certain high-income individuals.
- Expand the 3% net investment income tax to the investment income of all taxpayers making more than $400,000, effectively increasing the capital gains rate for those taxpayers even more.
- Increase taxes on multinational corporations earning profits abroad, including a minimum tax, to discourage offshoring.
