People currently pay 40 per cent tax on their earnings when they earn over €42,000
The entry level at which people pay the 40 per cent rate of tax will increase by €2,000 as part of Budget 2025, the Irish Mirror understands.
Elsewhere, the Irish Mirror understands that the Universal Social Charge could be cut by 1 per cent on incomes between €25,000 and €70,000.READ MORE: Sinn Fein alternative budget: Plans to cut USC and increase social welfare payments Sources told the Irish Mirror that as part of the income tax package that was discussed with party leaders, it is understood that a proposal was tabled by Minister Chambers to reduce USC. One proposal suggested decreasing the 4 per cent rate of USC to 3 per cent for earnings between €25,000 and €70,000.
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