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The Bob Cesca Podcast: It Is What It Is

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Anymouse 🌹🏡😷8/05/2020 12:45:49 am PDT

Next year people will be hammered as well, particularly the working poor. The Democrats have a bill in to fix this, but Mitch McConnell is sitting on it.

The problem is the Earned Income Credit, which is thought to have helped millions avoid dropping into poverty since it was created.

Unfortunately, it’s based on your earned income. If you’re laid off this year, you aren’t earning anything. That means next year’s tax filing will see millions receive a reduced payment or none at all.

That’s fine for the GOP, because they’ve been trying to reduce or eliminate it since it was created. That’s money which could be going to donors or businesses which already pay low or no taxes as bailouts.