Bill > HR4280

This bill, known as the Bipartisan Tax Fairness Act of 2025, proposes significant modifications to the Internal Revenue Code's income tax rate structure for different filing categories (married filing jointly, heads of households, unmarried individuals, married filing separately, and estates and trusts). The bill establishes new tax brackets with revised income thresholds and corresponding tax rates, introducing a new top marginal tax rate of 39.6% for high-income earners (those with taxable income over $2 million for joint filers and over $1 million for other categories). The changes include adjusting tax rates across various income levels, with percentages ranging from 10% to 39.6%, and modifying how inflation adjustments are calculated for these tax brackets. These new tax rates would become effective for taxable years beginning after December 31, 2025, and include provisions for rounding tax bracket thresholds and eliminating certain previous subsections of the tax code. The bill aims to create a more nuanced and potentially more progressive tax system by redistributing tax burdens across different income levels and simplifying some aspects of tax rate calculations.

Budget and Finance

https://www.congress.gov/bill/119th-congress/house-bill/4280/all-info