Modifies certain tax brackets under gross income tax.

This bill modifies New Jersey's income tax brackets for taxable years beginning on or after January 1, 2022, affecting most individual taxpayers. It increases the income thresholds for the four lowest tax brackets, meaning more taxpayers will qualify for lower tax rates. For example, the threshold for the 1.4% tax rate for married couples filing jointly rises from $20,000 to $68,510. These changes provide tax relief to low- and middle-income New Jersey residents by allowing them to keep more of their income. The bill does not change the tax rates themselves, only the income levels at which those rates apply.