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American Rescue Plan could make 2021 tax bill $0 for those making less than $75K, congressional committee says


American Rescue Plan could make 2021 tax bill $0 for those making less than $75K, congressional committee says
By Austin Williams
President Biden outlined his tax plan on the wealthiest Americans, corporations to Congress Wednesday night.
WASHINGTON - President Joe Biden’s massive $1.9 trillion relief package which was signed into law in March slashed taxes for lower-income Americans. 
According to a recent report from Congress’ Joint Committee on Taxation, Americans who make between $75,000 and $100,000 a year will pay an average tax rate of just 1.8%. Taxpayers who earn less than $75,000 annually will pay no taxes, on average, in 2021.
The broadly nonexistent federal tax bill for those making less than $75,000 is thanks to a variety of provisions in the American Rescue Plan, including a historic Child Tax Credit as well as federal stimulus payments.  ....

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$3,000 child tax credit: Here's what parents need to know


$3,000 child tax credit: Here’s what parents need to know
By Austin Williams
‘It’s a good day today’: President Biden speaks after Senate passes $1.9T COVID-19 relief bill
President Joe Biden delivered remarks Saturday, March 6, 2021 after the Senate worked overnight to pass the $1.9T COVID-19 relief bill with a vote of 50-49.
WASHINGTON - The buzz around the $1.9 trillion coronavirus relief plan recently passed by the U.S. Senate has been mostly surrounding the $1,400 direct payments to most individual Americans. 
But included in the historic bill is a plan to temporarily raise the child tax credit that could end up permanently changing the way the country deals with child poverty. ....

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