Fine times, we are living in. People making $200k or $1M really need tax relief right now?
He and Doggett, both members of the nonpartisan Joint Committee on Taxation (JCT), asked for an analysis of the tax breaks after the CARES Act was signed into law. What they discovered would probably shock most Americans. “Just 43,000 individual tax filers covered by one of the Republican provisions would see their tax liability fall by a combined $70.3 billion in 2020. Nearly 82% of those who will benefit from that provision make $1 million or more, with 95 percent making over $200,000,” the lawmakers said in a statement on the JCT’s analysis.