Some Republicans have introduced House Bill 158, which is a $500 Tax Credit for those making $18,000 or less individually or $36,000 or less if a married couple is filing jointly (in which case, the credit would be double, or $1,000).
I want to see what the catch is. It may just be a maneuver to rebrand their party as the working class party that Ted Cruz fantasizes about while at the same time starving the government of revenue. But on paper I would be for this tax credit if coupled with an increase in taxes on the wealthy in the form of a new tax brackets that some Democrats voted against in committee back in March.
If Democrats were smart, they’d promise to pass this bill with a House Bill 64 Amendment attached. Contrary to the thinking of some Representatives on the House Economic Everything Committee, taxing the wealthy is extremely popular and good policy.
| House Bill 158 Sponsors | Yes Votes | No Votes |
| Yearick, Briggs King, Gray, M.Smith | ||
| Pettyjohn, Wilson | ||
| Current Status — House Revenue & Finance 4/27/21 |
0 comments on “HB 158– Republican $500 Tax Credit”