The Bipartisan Tax Fairness Act of 2025 restructures federal income tax rates and establishes a new top tax bracket for high-income earners. The bill makes permanent the current income tax bracket structure while adding a new 39.6% tax rate on income exceeding $2 million for married couples filing jointly, $1 million for single filers, and corresponding thresholds for other filing statuses—effectively creating a ninth tax bracket above the existing seven. The legislation applies to all taxpayers across different filing categories, with tax brackets adjusted annually for inflation based on 2017 dollar amounts. The changes take effect for tax years beginning January 1, 2026, and the bill removes previous tax provisions related to marriage penalty adjustments that were set to expire. The bill does not specify new federal revenues or direct spending, but the new top rate is intended to increase tax liability for the highest earners.
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