House Republicans released their Tax Cuts and Jobs Act on Thursday, a tax reform proposal that includes new tax brackets and rates, The Wall Street Journal reports.
The proposal would not change the tax rate for married Americans making more than a million dollars, which is currently at 39.6 percent. Married Americans making up to $90,000 would pay 12 percent, which could potentially mean they pay more; under current law, married couples making less than $18,650 only pay 10 percent, but couples making up to $75,900 pay 15 percent. The GOP additionally proposed that married couples making $260,000 pay 25 percent, and American families making up to $1 million, 35 percent.
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