From Fox News: Sen. Cory Booker, D-N.J., facing a re-election campaign in 2026, announced a new tax-cut bill, the Keep Your Pay Act, that would eliminate federal income taxes on the first $75,000 of income for most households and expand key tax credits for working families.
Booker’s plan increases the standard deduction to $75,000 for married couples filing jointly, with proportional relief for single filers and heads of household, reducing federal income tax on the median American family by an estimated 85%.
“New Jerseyans are working harder than ever, but they’re struggling to get by because they’re facing out of control costs and an economy that is stacked against them — so we need big ideas to start making the American Dream possible for everyone again,” Booker wrote in a statement unveiling his bill. “No income tax on the first $75,000 families earn would be a game changer for working people.”
“This tax cut would immediately put more money in your pocket every month to deal with the high price of everyday expenses, an unexpected emergency, or to plan for the future,” he added.
Booker is believed to be positioning himself for a potential run for president in 2028.
Booker’s proposal would also expand the Child Tax Credit to $3,600 per child ages 6 to 17 and $4,320 for children under 6, along with a $2,400 “baby bonus” in the year of a child’s birth.
He claims all this could be paid for by increasing the tax rates on corporations and wealthy individuals.
“The first $75,000 of income for every American family should be tax-free,” Booker declared.
The first $75,000 of income for every American family should be tax-free. pic.twitter.com/ml9OUlgBm6
— Sen. Cory Booker (@SenBooker) March 9, 2026
“The economy is rigged against working people. I’m in Jersey today talking about some big ideas to help working families get ahead: no tax on your first $75K of household income, a bigger child tax credit, and finally making billionaires pay their fair share,” Booker claimed in another post.
The economy is rigged against working people. I’m in Jersey today talking about some big ideas to help working families get ahead: no tax on your first $75K of household income, a bigger child tax credit, and finally making billionaires pay their fair share. pic.twitter.com/Ex0nPHZdYf
— Sen. Cory Booker (@SenBooker) March 9, 2026
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