Alabama Senate Republicans on Thursday announced they have proposed a bill that would allow more taxpayers to take the maximum standard deduction on their state income taxes.
“This is not a tax break for the rich,” said Anniston-Republican and Senate President Pro Tem Del Marsh at a press conference unveiling the Senate GOP’s 2018 legislative agenda. “It’s a tax break for working class Alabamians.”
According to the Associated Press, SB76 “would increase the adjusted gross income level where jointly filing married taxpayers qualify for the full $7,500 standard deduction from $20,000 to $23,000. The deduction would be lowered as incomes rise. There would be similar changes for single people.”
Marsh, the bill’s sponsor, estimates the proposal will cost the state between $4 million to $6 million.