By Tyler Pruett, Managing Editor
MONTGOMERY, Ala. – Earlier this week, Alabama Senate Republicans passed a tax reform bill that is hoped to significantly reduce the taxes paid by tens of thousands of Alabama families who have a household income of $33,000 or less.
This comes at a time when the White House has also announced a tax cut for lower income tax payers:
"We are going to double the standard deduction so that a married couple won’t pay any taxes on the first $24,000 of income they earn. So in essence, we are creating a 0 percent tax rate for the first $24,000 that a couple earns," the White House released in a statement on Wednesday, April 26.
This will mean that if both measures are successful, taxpayers in Alabama who earn only $24,000 a year, will get a big break on both Federal and State taxes, with those earning up to $33,000 still getting a break from the state.
Senator Del Marsh (R-Anniston) sponsored the legislation, and reported the news via the Alabama Senate Republican Caucuses' website:
[blockquote style="1"]The Alabama Senate voted today to give a tax cut to tens of thousands of Alabama families. SB 293, which was introduced by Senate President Del Marsh (R-Anniston), was approved by a vote of 28-0. In its current form, SB 293 would widen the standard deduction floor and ceiling for families with a household income up to $33,000 and an equal amount for taxpayers filing as head of family, single, and married filing separate. “It is important to consider any time we can provide a tax cut to the hardworking people of Alabama,” Marsh said. “Before the 2017 session started, I began looking at responsible ways to achieve this and I am pleased that we found a way to provide this much deserved tax cut for the people.” SB 293 is part of the Alabama Senate Republican Caucus’ “Strengthen Alabama” agenda and will now go to the House for consideration.[/blockquote]
