Feb 25, 2014 22:31 GOP tax plan lowers rates, imposes surtax on rich GOP tax plan lowers rates, imposes surtax on rich The U.S. Capitol is seen in early morning light in Washington, Dec. 31, 2013. (AP Photo/Jacquelyn Martin) STEPHEN OHLEMACHER| Associated Press Feb. 25, 2014 Comments WASHINGTON (AP) — An election-year plan by House Republicans to simplify the tax code would cut income tax rates but impose a new surtax on some high-income families. The plan is to be unveiled Wednesday. A GOP aide who spoke on condition of anonymity said it would lower the top income tax rate from 39.6 percent to 25 percent. However, the plan would impose a new 10 percent surtax on some earned income above about $450,000. The aide was not authorized to speak publicly about the plan before its release. The plan has no chance of becoming law without Democratic support. But it could become a political document for House Republicans to show what they stand for, and for Democrats to attack, as the midterm elections approach in November.