Democratic Lawmakers Propose Higher Tax Rates In Delaware
DOVER, Del. (AP) - Democratic lawmakers in Delaware are proposing several new tax brackets that would result in higher-income individuals paying more to the state's coffers. The current top tax rate in Delaware is 6.6% for taxable income exceeding $60,000.
A bill introduced Wednesday would apply the 6.6% rate to income between $60,000 and $125,000 and create a new rate of 7.1% for taxable income in excess of $125,000, up to $250,000.
Those with income between $250,000 and $500,000 would pay 7.85%, and a top rate of 8.6% would be established for Delawareans with taxable income of more than $500,000.
Co-sponsors of the measure include the state Senate president and several progressive Democrats who were elected in November.
Copyright 2021 The Associated Press.
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