Does the Inflation Reduction Act violate Biden’s $400,000 tax pledge? Expect 'a different answer depending on who you ask,' says analyst
Senate Democrats' package of climate change, health-care, drug pricing and tax measures unveiled last week has proponents and opponents debating whether the legislation violates a pledge President Joe Biden has made since his presidential campaign, tonot raise taxes on households with incomes below $400,000 a year.
The answer isn't quite as simple as it seems. «The fun part about this is, you can get a different answer depending on who you ask,» said John Buhl, an analyst at the Tax Policy Center. More from Personal Finance:Embryos can count as dependents on Georgia state tax returnsWould you be included in student loan forgiveness?Remote work is helping fight inflation The White House has used $400,000 as a rough dividing line for the wealthy relative to middle and lower earners.
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