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The Biden administration is proposing to require banks to annually report to the IRS money going into and out of personal and business accounts totaling at least $600 to catch tax cheats. Republicans, including Utah State Auditor John Dougall, argue it would be an invasion of privacy.
The Direct Cash Assistance and Tax Cuts in the American Rescue Plan Act March 9, 2021, 9:23 am The American Rescue Plan Act (ARPA) is on the verge of passage, as the U.S. Senate approved it on March 6. The House of Representatives is preparing for a vote today or tomorrow, March 9 or 10, setting it up for President Joe Biden’s signature. To provide desperately needed relief to struggling families and speed the economy’s recovery from the COVID-19 pandemic, the bill includes an unprecedented amount of immediate cash relief and tax cuts to low- and middle-income families. Using illustrati...
RELEASE: Expanding the Child Tax Credit Would Lead to a Stronger and More Equitable Recovery Date: February 23, 2021 Contact: Julia Cusick Washington, D.C. — A new analysis from the Center for American Progress examines the benefits of expanding the child tax credit along the lines of what is proposed in the American Rescue Plan. The issue brief finds that provisions of the child tax credit expansion in the American Rescue Plan would have a dramatic impact on child poverty and be more effective at reducing child poverty than previous expansions. Key benefits include: Reducing child poverty...
A CRA To Meet the Challenge of Climate Change Advancing the Fight Against Environmental Racism Getty/Thomas B. Shea/AFP A car gets towed while men walk in floodwaters on a road in Houston, August 2017, in the wake of Hurricane Harvey. Julia Cusick Introduction and summary A federal law passed more than 40 years ago to address the discriminatory practice of redlining in low-income neighborhoods and communities of color can and should be modernized to address other systemic racism-fueled inequities. These inequities, including the disproportionate exposure to environmental hazards and climat...