Americans wouldn't owe federal income tax on a big chunk of their paychecks under a proposal Sen. Cory Booker is rolling out this week. The New Jersey Democrat tells NBC News he'll introduce a bill Tuesday that would more than double the standard deduction, so married couples wouldn't pay income tax on their first $75,000 in earnings, and single filers on their first $37,500. Heads of household would get their first $56,250 tax-free. "It's a simple idea," Booker said, arguing that the change "will have a significant impact on the average American in raising their income," and push more people to use the standard deduction instead of itemizing.
The plan also includes a beefier child tax credit—$4,320 per child under 6, $3,600 for ages 6 to 17—and a $2,400 "baby bonus" in the year a child is born. Booker says the package, which doesn't have a price tag as yet, would be offset by higher taxes on wealthy Americans and large corporations, plus closing "tax avoidance" loopholes, though the bill doesn't spell those out. With Congress not currently eyeing a major tax rewrite, the proposal is widely seen as a marker for the next time Democrats control Washington—and as Booker keeps his options open for a 2028 presidential run. "I have not closed the door on '28," says Booker, "but I'm really focused on now that the Democratic Party needs to not be defined by what it's against, simply, but start talking about the big things it stands for."
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