Two Democratic senators introduced separate tax bills Thursday that would reduce or eliminate federal income taxes on a portion of earnings for many households.

Sen. Chris Van Hollen of Maryland proposed a bill that would create a cost-of-living exemption of up to $46,000 for single filers, $64,400 for heads of household, and $92,000 for married couples filing jointly. The exemption would phase out starting at $80,500 for single filers, $112,700 for heads of household, and $161,000 for married couples filing jointly.

Sen. Cory Booker of New Jersey introduced a separate measure that would raise the standard deduction to $75,000 for married couples filing jointly. Because the standard deduction applies across income levels, the proposal would also reduce taxes for some higher earners.

According to an analysis cited in the proposals, Van Hollen’s bill would provide average tax cuts of about $1,000 to $1,300 for many middle-income households. Booker’s office said his proposal would also expand the child tax credit and earned income tax credit.

The current standard deduction for the 2026 tax year is $16,100 for single filers, $32,200 for married couples filing jointly, and $24,150 for heads of household. Most households use the standard deduction.

The two bills use different funding approaches. Van Hollen’s proposal would be funded through a surtax on income above $1 million. Booker’s plan would be funded through changes that include higher corporate taxes and the closing of tax loopholes.

Budget estimates cited in the article say Van Hollen’s surtax would affect about 615,000 filers and raise about $1.46 trillion over 10 years. A separate estimate said Booker’s proposal would cost about $5.3 trillion over the same period.

Some tax policy analysts said the proposals would provide limited benefit to households that already owe little or no federal income tax. One analysis cited in the article said the largest benefits under Van Hollen’s plan would go to middle-income households.

The proposals come as lawmakers continue to debate tax policy following recent Republican-backed tax legislation. Neither Democratic bill is expected to advance in the current Congress, where Republicans control both chambers.

Source: 2 bills would erase income taxes for many Americans. Here’s what to know. | CBS News