The Institute on Taxation and Economic Policy (ITEP), a left-leaning nonpartisan think tank, analyzed the cash payment and tax proposals from the House Ways and Means Committee as part of Biden’s stimulus proposal last week.
For the poorest 20% of Americans making less than $21,300, the ITEP analysis found they would, on average, pocket $3,590 more per year. This money comes from the direct payment stimulus checks and the expansions of the Child Tax Credit and the Earned Income Tax Credit. Read more
