Biden could cut your taxes by $3,100

Biden could cut your taxes by $3,100

You may get more of your tax dollars back from the IRS to help you pay down debt or build up your emergency fund.

Congress has President Joe Biden’s pandemic rescue package moving on a fast track in a race against time to get Americans the relief they need. A key vote is expected on Friday.

Along with the much-discussed stimulus checks, additional proposals in the bill would offer the average household $3,100 in tax savings for 2021, according to the Urban-Brookings Tax Policy Center.

So, the $1.9 trillion legislation would provide not only a stimulus check of up to $1,400, extended unemployment benefits and more funding for the COVID vaccine rollout, but also some tax relief.

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