March 19, 2020

CNBC: A tale of two coronavirus relief efforts: One for the rich, one for the poor

media mention

Two financial-relief measures the Trump administration is weighing to fight the economic scourge of the coronavirus would have drastically different impacts on the rich and poor, according to a new analysis.

A payroll tax cut would overwhelmingly benefit the richest Americans, and would do little to prop up the economy, according to the Institute on Taxation and Economic Policy.

On the other hand, the financial benefits of writing a check for a few thousand dollars to each U.S. household would tilt heavily toward low- and middle-income Americans, according to the think tank. Read more