8. Affordable housing
Another thing that’s on President Biden’s tax plan list is expanding access to affordable housing. He plans to do so by developing a new refundable tax credit that would translate to $15,000 for first-time homebuyers.
This credit will be paid when you purchase a home, not when you file your tax return the next year. As for renting, Biden wants to create a new renter’s tax credit in order to minimize utility costs and rent by up to 30 percent of income for low-income taxpayers.
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Furthermore, Biden wants to offer all Americans the opportunity of buying a home by exposing the low-income housing tax credit.
7 thoughts on “Here’s What President Biden Plans to Do With Your Taxes”
On the surface, it is difficult to see how he will pay for all this. The increased income seems to have to come from business or the very wealthy. I have seen all the glorious ideas but not an offsetting plan that shows how it will be paid for. A real concern.
One question: Will any of this happen after he wakes up from his dream?
Restart the pipeline, why? Tax money from wages and social security is money income to offset out going spending and benefits.
The pipe line is not a environmental hazard it has been cleared! If the United States gave Canada Her word that the line would be run I think President Biden should honor Her word.
There would be more pollution and danger from transporting gasoline and oil by truck or rail than by the pipeline. The plus of the route of the pipeline will stimulate small businesses along the way and also training new workers for the future development of wind turbines and solar energy panels.
I definitely agree
This and the open southern border are the worst mistakes Biden made. Now that The Keystone pipeline is shut down our economy is screwed up. We the taxpayers are in for a rough 4 years if this problem isn’t turned around.
I know the earth moves periodically underground. It’s very possible that there will be many leaks that would be drastic to the land and environment. If you continue this pipeline you will be damaging the earth’s environment. It is not worth the chance. The damages will be unrepairable. It’s a no win solution. He has a better chance in doing nothing than going forward with this fiasco.
It always stays the same. No exception. The financial burdens fall on the middle class or lower. Joe cannot spend his way out of this mess, and what he is doing will cause a great deal of harm for years to come. To blame this on Trump is just not true. Trump has issues plus he intertied an economy that was in trouble plus he had to face Covid19. Joe could not ever deal with this, as seen by his speeches to the American people. Without a teleprompter Joe is lost, Trump lost the election period. The Democrats need to buck up and stop the ranting and raving political games the play. The next election could put the Dems on the outside looking in again. To permanently structure out government so that only the Democrats will be in control into eternity would be a death sentence to America as we know it. Joe cannot ignore the Southern boarder. Dems and Republicans alike want to stop the illegal flow of bodies coming and invading this country. The repercussions on this will be expensive and devastating. Sorry Joe you blew this one.