And speaking about long overdue changes, Congress should repeal the marriage penalty in the U.S. tax code. Last week, Republicans won House passage of legislation that would cut income taxes $182 billion over 10 years for all married taxpayers, including the 25 million couples who pay the penalty.
The U.S. tax code simply shouldn't punish married people. Two people living together in marriage shouldn't have to pay more than two single people who make a family and share an abode. That sends the wrong message.
The penalty strikes most frequently at income levels between $20,000 and $75,000 and costs couples an average of $1,400 a year. Most families today have two-incomes, which may have not been the case when the tax code was written. The code needs to change with the times.
Both Democrats and Republicans agree that something needs to be done about the marriage penalty. Both sides are proposing different strategies.
Whether election-year rhetoric will speed up or stall this needed change remains uncertain. This would probably be a good time for married couples to make their voices heard in Washington.
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