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Biden s stimulus checks bill could cut your taxes by $3,100

Biden s stimulus checks bill could cut your taxes by $3,100 MoneyWise 2/24/2021 © Shutterstock Stimulus check bill could cut your taxes by $3,100 Congress has put the stimulus package on a fast track in a race against time to get Americans the relief they need. Along with the long-discussed stimulus checks, additional proposals in the bill would offer the average household $3,100 in tax savings for 2021, according to Urban-Brookings Tax Policy Center. In the passing of the budget plan, which contains President Joe Biden’s $1.9 trillion relief bill, you can also expect to see your $1,400 stimulus check as soon as next month, along with extended unemployment benefits and more funding for COVID vaccine rollout.

Is a $777B financial transaction tax heading our way? Could be after GameStop stock frenzy

by Matt Egan, CNN Business February 24, 2021 . Uncle Sam is in search for a pot of gold that could ease the pain of trillion-dollar deficits. And some believe Wall Street might just have the answer. For more than a decade, progressives have tried and failed to impose a financial transaction tax. But there is new momentum for such a levy as the national debt skyrockets during the pandemic and in the wake of the GameStop trading frenzy that shined a bright light market structure concerns. The White House told CNN Business on Sunday that a financial transaction tax on GameStop-like trading deserves additional study and can be part of a greater evaluation of such a tax for revenue and market stability. The leading proposal amounts to a $1 tax on every $1,000 of transactions.

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