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This bill enacts new tax brackets for the rich and super-rich. It would also tax capital gains and dividend income as ordinary income for those taxpayers with income over $1 million.

The new brackets for unmarried individuals, married couples, and heads of households would be:

$1-10 million: 45 percent
$10-20 million: 46 percent
$20-100 million: 47 percent
$100 million to $1 billion: 48 percent
$1 billion and over: 49 percent

For married couples who file their taxes separately, the thresholds at which these tax brackets would take effect would be cut in half. So for example, income over $500,000 for a spouse would be taxed at 45 percent, over $5 million at 46 percent, and so forth.

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New Tax Brackets for the Rich and Super-Rich