Bipartisan Tax Fairness Act of 2025

This bill, titled the "Bipartisan Tax Fairness Act of 2025," proposes significant changes to the federal individual income tax structure. Its primary goal is to amend the Internal Revenue Code of 1986 by making certain expiring income tax rates permanent, effectively extending many provisions from the Tax Cuts and Jobs Act of 2017. Additionally, it establishes a new, higher top income tax rate for high-income earners. The legislation replaces the existing tax rate tables for various filing statuses, including married individuals, heads of households, and unmarried individuals. A key provision is the introduction of a 39.6% top individual income tax bracket for taxable incomes exceeding specific thresholds, such as $2,000,000 for married individuals filing jointly. Other individual income tax rates, ranging from 10% to 37%, are also modified and made permanent, while inflation adjustments for tax brackets will now be based on a 2017 baseline. These amendments are set to take effect for taxable years beginning after December 31, 2025 , aligning with the expiration of current tax law provisions.