Tax Hike in New Proposal Only for Couples Making More Than $509,000: White House

President Joe Biden, flanked by Vice President Kamala Harris (L) and Speaker of the House of Representatives Nancy Pelosi (R), addresses a joint session of Congress at the US Capitol in Washington, on April 28, 2021. Melina Mara/Pool/AFP via Getty Images

President Joe Biden’s proposal to increase taxes to pay for school for some would affect couples making more than $509,299 according to a White House official.

“Consistent with the President’s campaign proposal, we are proposing to reverse the tax cut for the top bracket by returning that top tax bracket to what it would’ve been under pre-2017 law. That applies to less than 1 percent of Americans—the very top earners,” a White House official told news outlets in a statement.