Why is this fabulous news? Because in 2023 you may get to keep more of your hard earned cash!
This tax year, 2022, if you are married filing jointly and your Adjusted Gross Income is over $648,850, you will have to pay 37% in income taxes. In 2023 if you make the same amount you will only have to pay 35%. The 37% does not kick in until $693,750.
It’s a dream come true.