New bill would adjust tax brackets for inflation in Delaware

Delaware State News
Posted 1/17/22

Delaware’s personal income tax brackets would be annually adjusted for inflation under a new House of Representatives bill, helping low- and moderate-income families avoid having their earnings unfairly taxed at higher rates.

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New bill would adjust tax brackets for inflation in Delaware

Posted

Delaware’s personal income tax brackets would be annually adjusted for inflation under a new House of Representatives bill, helping low- and moderate-income families avoid having their earnings unfairly taxed at higher rates.

House Bill 278 is sponsored by Rep. Rich Collins, R-Millsboro, and Sen. Dave Lawson, R-Marydel, who say that inflationary “tax bracket creep” hits working Delawareans the hardest.

Under the measure, the state’s income tax rates would be adjusted annually by an amount equal to the change in the consumer price index prepared by the Bureau of Labor Statistics for urban consumers. If enacted, the legislation would take effect at the start of 2023.

The bill is pending action in the House Revenue & Finance Committee.

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