Friday, November 19, 2021

Build back passes

The build back better bill passed today and contains benefits for wealthy people. Starting with the repeal of the Trump SALT, it also has $320 billion in tax credits for installing solar panels and this could save a homeowner $20,000 in taxes but how many low income people pay taxes. The same goes for the $12,500 tax credit for EV's. The least costly Tesla is $45,000 and not many low income people can afford that. The bill could do without these features and keep things like $400 billion for universal pre-K, $200 billion child tax credits, $200 billion for 4 weeks paid leave and $150 for reduced deductibles for healthcare as these help low income people. The bill now goes to the senate and there they may remove some of these help the rich parts.

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