WASHINGTON, March 9 -- Sen. Cory Booker issued the following press release:
Today, U.S. Senator Cory Booker (D-NJ) announced the Keep Your Pay Act, a new proposal that cuts taxes for working Americans and unrigs America's tax system by requiring the wealthiest few and big corporations to finally pay their fair share.
The centerpiece of Booker's plan is a straightforward idea: the first $75,000 of income would be tax-free for households filing jointly, with proportional tax relief for single filers and heads of households. The plan would more than double the standard deduction for all taxpayers. This means the majority of all taxpayers will pay no federal income tax on the first $75,000 of their earnings.
Booker's plan also includes an ex...