Modifications to Federal Personal Income Tax Rates for FY2006 (WITHDRAWN) (user search)

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Modifications to Federal Personal Income Tax Rates for FY2006 (WITHDRAWN) (search mode)

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Topic: Modifications to Federal Personal Income Tax Rates for FY2006 (WITHDRAWN) (Read 1265 times)

Gabu
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	Modifications to Federal Personal Income Tax Rates for FY2006 (WITHDRAWN) « on: June 04, 2005, 08:32:32 PM »
	« edited: June 05, 2005, 08:05:30 PM by Senator Gabu, PPT »

As introduced by Sen. King:

Modifications to Federal Personal Income Tax Rates for FY2006

Section 1
All rate changes specified below shall be valid for personal income tax collection in the fiscal year of 2006 (FY2006) only.

Section 2
(a). FY2006 Personal Income Tax rates for the top earnings bracket shall be raised by 3 percent to 38 percent.

(b). FY2006 Personal Income Tax rates for the second-to-top earnings bracket shall be raised by 2 percent to 35 percent.

(c). FY2006 Personal Income Tax rates for the third-to-top earnings bracket shall be raised by 1 percent to 29 percent.

(d). FY2006 Personal Income Tax rates for the third-to-bottom earnings bracket shall remain at 25 percent.

(e). FY2006 Personal Income Tax rates for the second-to-bottom earnings bracket shall be lowered by 1 percent to 14 percent.

(f). FY2006 Personal Income Tax rates for the bottom earnings bracket shall be abolished.