Vermont H0077 creates a new income tax bracket to fund education and transportation.

Vermont H0077 amends the state's income tax code to create a new marginal tax bracket. This new bracket applies to income over certain thresholds and imposes higher tax rates on higher income levels. The revenue generated from this new tax bracket will be allocated to the Education Fund, Transportation Fund, and Vermont Higher Education Endowment Trust Fund. The tax rates vary based on filing status and income levels, with rates ranging from 3.35% to 12.75%. The bill also specifies that the tax rates will be adjusted annually for inflation.

Vermont H0077 creates a new income tax bracket to fund education and transportation.

Vermont H0077 amends the state's income tax code to create a new marginal tax bracket. This new bracket applies to income over certain thresholds and imposes higher tax rates on higher income levels. The revenue generated from this new tax bracket will be allocated to the Education Fund, Transportation Fund, and Vermont Higher Education Endowment Trust Fund. The tax rates vary based on filing status and income levels, with rates ranging from 3.35% to 12.75%. The bill also specifies that the tax rates will be adjusted annually for inflation.