Senator Chris Van Hollen

And so this is the Working Americans Tax Cut Bill.

And the idea is

Essentially, if you're making a living wage, in other words, just enough to support yourself or yourself and the family, then you shouldn't be paying federal income taxes.

You should be essentially able to keep more of what you earn.

in order to pay your bills and, you know, have a dignified life for yourself and your family.

That's the fundamental idea.

130 million Americans will benefit.

They'll have a little bit more of their paycheck to keep.

It is fully paid for an offset by a surtax on millionaires, right?

Starting with a 5% tax on the first dollar over a million dollars a year.

So if you're making over a million dollars a year,

On that first dollar of a million, you'll pay 5%.

It's a little escalating surtax.

It's about $1.5 trillion, and it provides the revenue to provide relief for people who are working paycheck to paycheck.

Well, you're right.

It's for somebody whose income is a single person, whose income is about $45,000 a year.

That's about the median cost of living expense in America.

And what that means is that they're just making enough to meet their basic expenses.

And so, right.

If you're in that category or below, at that income level or below, you would not pay income taxes.