While Struggling Americans Await $1,200 Stimulus, Nation’s Wealthiest Reap Windfall
April 23, 2020
The $2.3 trillion coronavirus stimulus package includes a temporary tax change for individuals who make at least $1 million a year, according to the Joint Committee on Taxation. The Joint Committee’s analysis shows 43,000 taxpayers in the highest income bracket, making more than $1 million a year, could save a combined $70 billion in taxes. Almost all benefits from the tax break go to people making more than $100,000 a year.