An act relating to an income tax surcharge

H.619 proposes a 3% income tax surcharge on Vermont residents with federal adjusted gross income of $1 million or more, directly affecting high-income earners. The surcharge applies in addition to existing income tax and will automatically adjust for inflation each year to maintain the $1 million threshold. It takes effect retroactively for tax years beginning January 1, 2026. This bill creates a new tax obligation for individuals earning over $1 million annually, with no changes to other tax rates or brackets.