Congressman Todd Rokita, R-Ind., will introduce legislation that helps Americans keep more of the bonuses they receive by making them tax-free.
The legislation, “Creating Relief and Useful Middle-Class Benefits and Savings”—known as the CRUMBS Act—also takes a swipe at House Minority Leader Nancy Pelosi, who has repeatedly downplayed the significance of the bonuses some Americans are receiving thanks to the GOP tax plan by referring to them as “crumbs.”
“In terms of the bonus that corporate America received versus the crumbs that they are giving to workers to kind of put the schmooze on — it’s so pathetic,” she told reporters last month. “I think it’s insignificant.”
Rokita said in a statement comments like Pelosi’s reflect how “out-of-touch” Democratic leaders are.
"Americans are receiving thousands of dollars in bonuses and more money in their paychecks thanks to President Trump's tax reform, but out-of-touch Democratic leaders believe they only amount to crumbs," he said, reports Fox News. "The CRUMBS Act will let Americans keep more of the money they receive as a result of President Trump's tax reform, and allow them, not the government, to choose how best to spend their bonuses.”
The CRUMBS Act would make bonuses up to $2,500 tax-free.
Americans for Tax Reform is keeping track of the number of Americans who are receiving tax reform bonuses. So far 346 companies have given workers bonuses, raises, or 401(k) hikes thanks to tax reform, affecting more than 3,500,000 Americans.
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