Source: Fox News
“Sen. Cory Booker [D-NJ], facing a re-election campaign in 2026, announced a new tax-cut bill, the Keep Your Pay Act, that would eliminate federal income taxes on the first $75,000 of income for most households and expand key tax credits for working families. Booker’s plan increases the standard deduction to $75,000 for married couples filing jointly, with proportional relief for single filers and heads of household, reducing federal income tax on the median American family by an estimated 85%. ‘New Jerseyans are working harder than ever, but they’re struggling to get by because they’re facing out of control costs and an economy that is stacked against them — so we need big ideas to start making the American Dream possible for everyone again,’ he wrote in a statement unveiling his bill. ‘No income tax on the first $75,000 families earn would be a game changer for working people.'” (03/09/26)