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January 7, 2018

Like all of his Democratic competitors, Daiber supports a state constitutional amendment allowing the Legislature to replace the current flat state income tax with a progressive income tax that permits higher tax rates on higher levels of income. Under Daiber's proposal, the state would generate less revenue than it receives under the current flat tax.

A more realistic progressive tax plan was unveiled in 2012 by the Center for Tax and Budget Accountability, which is headed by Ralph Martire. Its backers said their plan would reduce income taxes for 94 percent of taxpayers but generate more than $2 billion in new revenue by increasing taxes on upper-income earners,

For starters, Martire's plan would boost state income taxes on those with incomes of $100,000 to $150,000 to 7.5 percent, an increase of more than 50 percent from the current flat 4.95 percent rate. Rates would increase from 8.5 percent up to 11 percent as income increased from $150,000 to $1 million and above.

Source: The News Gazette