The Working Americans’ Tax Cut Act  would eliminate federal income tax for people who earn below the median cost of living, designating at $46,000. The bill also provides significant tax breaks for individuals making between $46,000-$80,500 with proportionally higher rates for heads of households and married couples. The bill would be funded through a surtax of 5% to 12% for individuals with an income over $1 million or married couples who earn more than $1.5 million. The surtax would apply equally to wages and salaries as well as capital gains and other investment income, lawmakers said. A fact sheet on the bill said the surtax would impact 615,000 tax filers and raise more than $1.46 trillion over 10 years. Reporting by Leada Gore Read more on AL.com #taxes #taxcut #payment #legislation #congress