taxable income

The bill would revise the income tax rates and taxable income brackets by imposing an income tax rate of 3% instead of 4%, according to the bill.

Trump wants trillions of dollars in tax cuts, and many employer-provided benefits are currently excluded from taxable income.

The proceeds of loans aren’t generally treated as taxable income unless the loan is forgiven.

Though called a tax credit, it is effectively an income guarantee, paid monthly regardless of whether a family has earned any taxable income.

In 2015, more than 6 million Californians filed for the deduction, reducing their federal taxable income by an average of $18,438, according to the Urban-Brookings Tax Policy Center.