By Matt Durr
mlive.com
(TNS)
WASHINGTON — Millions of Americans could see a huge change in their taxes under a bill that will soon be introduced by Sen. Cory Booker.
The New Jersey Democrat plans to propose legislation Tuesday that would increase the standard deduction to $75,000 for married couples filing jointly, according to NBC News.
The deduction would be worth $37,500 for individuals and $56,250 for “head of household” filers.
“It’s a simple idea: American households don’t pay taxes on their first $75,000 of earnings,” Booker said. “It will have a significant impact on the average American in raising their income.”
The standard deduction for tax year 2025—meaning taxes filed in 2026—is worth $31,500 for married couples filing jointly and $15,750 for single filers. Booker’s bill would more than double the current deductions.
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The bill would also increase the Child Tax Credit to $4,320 per child under 6 years old, and $3,600 per child between 6 and 17. A $2,400 “baby bonus” would also be added for tax years when a baby is born. The current Child Tax Credit is worth $2,200 for each child under the age of 17.
“Americans are working harder and harder, and they’re making less and less relative to their parents and grandparents. The economy is not working. So we need big ideas that could redeem the dream of America,” Booker said.
However, while the bill is expected to be introduced to the Senate Tuesday, it is unclear if there is bipartisan support for the legislation.
Photo credit: C-SPAN via YouTube
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©2026 Advance Local Media LLC. Visit mlive.com. Distributed by Tribune Content Agency LLC.
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