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The Boston Globe

Nation

Highlights of the Senate agreement

 Income taxes: Income taxes would rise to 39.6 percent from 35 percent on income more than $400,000 for single people and $450,000 for couples. Above those income levels, dividends and capital gains tax rates would also rise, to 20 percent from 15 percent. The deal would reinstate provisions, ended by the Bush tax cuts of 2001, that phase out personal exemptions and deductions for the affluent. Those phaseouts, under the agreement, would begin at $250,000 for single people and $300,000 for couples.

 Inheritance tax: The estate tax would also rise, but considerably less than Democrats had wanted. The value of estates more than $5 million would be taxed at 40 percent, up from the current 35 percent. Democrats had wanted a 45 percent rate on inheritances larger than $3.5 million. The new rates on income, investment, and inheritances would be permanent.

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