A Republican Congressman is readying legislation that would make most bonuses given out tax-free thanks to President Trump’s tax reform.
Rep. Todd Rokita (R-Indiana) named his bill the CRUMBS Act – a pointed jab at House Minority Leader Nancy Pelosi who, repeatedly, decried the $1,000 and $2,000 bonuses given out by corporations to their employees as “crumbs.”
The bill, officially titled the Creating Relief and Useful Middle-Class Benefits and Savings Act would make bonuses received by workers in 2018 tax-free up to $2,500. That would cover the vast majority of bonuses given out to more than 3.5 million Americans as a result of tax reform.
“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,” Rokita said in a statement. “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.”
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