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Booker Proposes Tax Bill Boosting Deductions and Child Credits

3/9/2026

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Summary

Story summary

Senator Cory Booker of New Jersey plans to introduce a tax bill to expand the standard deduction for low- and middle-income earners.
It would set the standard deduction at $75,000 for married couples and $37,500 for individuals.
The bill would raise the child tax credit and include a 'baby bonus.'
Costs remain unspecified.

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Story summary

Senator Cory Booker of New Jersey plans to introduce a tax bill to expand the standard deduction for low- and middle-income earners.
It would set the standard deduction at $75,000 for married couples and $37,500 for individuals.
The bill would raise the child tax credit and include a 'baby bonus.'
Costs remain unspecified.