Income tax, state; indexing brackets and exemptions.

Income tax; indexing brackets and exemptions.Starting with taxable year 2022, indexes income tax brackets, thepersonal exemption, and the additional personal exemption for theblind or the aged. The bill requires the indexing ratio to be basedon any increase in the Chained Consumer Price Index for All UrbanConsumers (C-CPI-U) compared with 2021 as a reference year; however,the indexing ratio shall not be less than zero and therefore doesnot function to reduce any bracket or exemption.