08-26-2022, 05:11 AM
From Heather Cox Richardson's newsletter on Wednesday:
...White House National Economic Council Director Bharat Ramamurti told reporters today that “87% of the dollars…are going to people making under $75,000 a year, and 0 dollars, 0%, are going to anybody making over $125,000 in individual income.” He told them it was “instructive” to compare this plan “to what the Republican tax bill did in 2017. It’s basically the reverse. Fifteen percent of the benefits went to people making under $75,000 a year, and 85% went to people making over $75,000 a year. And if you zoom in even more on that, people making over $250,000 a year got nearly half of the benefits of the GOP tax bill and are getting 0 dollars under our [plan]."
and:
...[supporters of the plan] also note that there was very little objection to the forgiveness of 10.2 million Paycheck Protection Program (PPP) loans issued as of July 2022, with $72,500 being the average dollar amount forgiven.
...White House National Economic Council Director Bharat Ramamurti told reporters today that “87% of the dollars…are going to people making under $75,000 a year, and 0 dollars, 0%, are going to anybody making over $125,000 in individual income.” He told them it was “instructive” to compare this plan “to what the Republican tax bill did in 2017. It’s basically the reverse. Fifteen percent of the benefits went to people making under $75,000 a year, and 85% went to people making over $75,000 a year. And if you zoom in even more on that, people making over $250,000 a year got nearly half of the benefits of the GOP tax bill and are getting 0 dollars under our [plan]."
and:
...[supporters of the plan] also note that there was very little objection to the forgiveness of 10.2 million Paycheck Protection Program (PPP) loans issued as of July 2022, with $72,500 being the average dollar amount forgiven.