Dáil Éireann Debate, Tuesday - 18 April 2023
372. Deputy Catherine Murphy asked the Minister for Finance the estimated full year cost to reduce the second rate of USC from 2% to 1%, together with increasing the upper band limit for this proposed second rate of USC from €22,920 to €24,900. [16928/23]
View answerI am advised by Revenue that the estimated cost to the Exchequer, on a first and full year basis, for the proposal outlined by the Deputy is €348 million and €401 million respectively.
As the Deputy may be aware, a reduced rate of USC of 2% currently applies for those aged over 70 years with income of €60,000 or less and for those who hold a full medical card with income of €60,000 or less. The estimated costing also includes a decrease in the reduced rate of USC from 2% to 1% for consistency.
