DE HB149 | 2023-2024 | 152nd General Assembly
Status
Spectrum: Partisan Bill (Republican 10-0)
Status: Introduced on March 12 2024 - 25% progression, died in chamber
Action: 2024-03-20 - Not Enough Signatures to Release
Text: Latest bill text (Draft #2) [HTML]
Status: Introduced on March 12 2024 - 25% progression, died in chamber
Action: 2024-03-20 - Not Enough Signatures to Release
Text: Latest bill text (Draft #2) [HTML]
Summary
This Act requires personal income tax brackets to be annually adjusted for cost-of-living increases. This will prevent tax rate increases resulting from cost-of-living pay increases that push lower income taxpayers into higher tax brackets. This is referred to as "bracket creep". Cost-of-living pay increases are intended to offset inflation and not create a greater tax burden on lower income taxpayers. Social justice requires that lower income taxpayers should not face both inflation and higher tax rates at the same time. This Act will be effective for tax years beginning after December 31, 2024.
Title
An Act To Amend Title 30 Of The Delaware Code Relating To Personal Income Taxes.
Sponsors
History
Date | Chamber | Action |
---|---|---|
2024-03-20 | Not Enough Signatures to Release | |
2024-03-12 | Adopted in lieu of the original bill HB 149, and Assigned to Revenue & Finance Committee in House |