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If Congress does not act by Dec. 31, the Bush tax cuts from 2001 and 2003 will expire. This is how tax rates would change.
2010 tax rates
| INCOME LEVEL* | RATE |
| Up to $16,750 | 10% |
| $16,751 to $68,000 | 15% |
| $68,001 to $137,300 | 25% |
| $137,301 to $209,250 | 28% |
| $209,251 to $373,650 | 33% |
| Above $373,651 | 35% |
2011 tax rates if cuts are not extended
| Up to $58,200 | 15% |
| $58,201 to $140,600 | 28% |
| $140,601 to 214,250 | 31% |
| $214,251 to $382,650 | 36% |
| Above $382,651 | 39.6% |
2011 tax rates under Obama plan
| Up to $17,150 | 10% |
| $17,151 to $58,200 | 15% |
| $58,201 to 140,600 | 25% |
| $140,601 to $237,300** | 28% |
| $237,301 to $382,650 | 36% |
| Above $382,651 | 39.6% |
* Married couples filing joint return
** Adjusted gross income of $250,000 minutes standard exemptions and deduction.
Source: Joint Committee on Taxation
