Pennsylvania HB833 proposes a constitutional amendment to tax high-income earners an additional 4%.
Pennsylvania HB833 proposes an amendment to the state constitution to tax citizens or residents with an annual taxable income over $1,000,000 an additional 4% on the portion exceeding that amount. This additional tax is intended to apply only to the Commonwealth's highest income taxpayers. The income threshold will be adjusted annually to reflect the cost of living, using the same method as for federal income tax brackets. The amendment requires approval from the General Assembly on two separate occasions before it can be submitted to voters.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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