By Katie Lobosco, CNN
Updated 3:59 PM ET, Tue February 16, 2021
Washington (CNN)The House Democrats’ Covid relief bill would reduce household federal tax bills by an average of $3,100 each this year, according the Urban-Brookings Tax Policy Center.
The tax savings for individuals would come from four major provisions in the legislation advanced by the House Ways and Means Committee last week:
= The $1,400 stimulus payments, which are technically an advance
taxcredit.
– An expanded child tax credit.
– An expanded income tax credit.
– And a boost to the tax credit for those paying for child care.
President Joe Biden is traveling the country this week to drum up public support for his $1.9 trillion relief plan, which closely aligns with legislation moving forward in Congress.
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