Booker’s Standard Deduction Proposal Sparks Pushback: BGOV Tax

Booker Pitches $75,000 Standard Deduction

Sen. Cory Booker ignited controversy by announcing a new tax proposal that promises to expand the standard deduction to the first $75,000 of household income for married couples — and paying for it with a range of corporate tax rate hikes.

The planned legislation, dubbed the Keep Your Paycheck Act, also would expand the Earned Income Tax Credit eligibility to younger and older workers as well as boost the child tax credit to $4,320 for children under 6 and to $3,600 for those from 6 to 17 from the current $2,200 credit for children under ...