Marginal rate Present steps Tax on steps Indexed for CPI Indexed for AWE Budget steps tax on Budget steps
0.0% $0 $0 $0 $0 $0 $0
18.5% “$6,000” $0 “$6,780” “$7,140” “$6,000” $0
31.5% “$20,000” “$2,590” “$22,600” “$23,800” “$21,600” “$2,886”
43.5% “$50,000” “$12,040” “$56,500” “$59,500” “$52,000” “$12,336”
48.5% “$60,000” “$16,390” “$67,800” “$71,400” “$62,500” “$16,903”
Total income tax increase in Costello’s past three Budgets
income tax under Costello tax if indexed tax increase tax increase as a %
“$7,140” $211 $0 $211 –
“$23,800” “$3,579” “$3,082” $497 16.1%
“$59,500” “$15,598” “$14,327” “$1,271” 8.9%
“$71,400” “$21,219” “$19,503” “$1,716” 8.8%
“$71,400 or more” – – “$1,716” –