Corporate Democrats Want Tax Breaks for the Rich — Not $2,000 Survival Checks

Corporate Democrats are backing off a chance to push for a new round of $2,000 survival checks. And some of them are even floating tax breaks for the wealthy instead. We should rally against this backsliding.

Presidential Candidate Joe Biden Speaks In Lancaster On Health Care

Joe Biden puts on a mask after speaking during an event about affordable health care in Lancaster, Pennsylvania. (Photo by Joshua Roberts / Getty Images)


Just two weeks after Democrats won the US Senate on a promise to immediately pass $2,000 survival checks, party leaders are now proposing $1,400 checks — a lesser amount than many expected, which would save the federal government money and could address conservatives’ concerns that too much money is going to people who supposedly do not need it.

And yet, Democratic lawmakers are also considering a new tax break that could cost nearly as much or more as the savings gleaned from reducing the survival checks — and the tax break’s benefits would primarily go to the rich.

If passed, the new stimulus proposal released this week by president-elect Joe Biden would significantly boost the minimum wage and funding for unemployment benefits and rental assistance. But the Biden initiative recommends sending $1,400 checks instead of $2,000 checks — a reduction that would save the federal government somewhere between $164 billion and $200 billion, based on estimates from Congress’s Joint Committee on Taxation and the Committee for a Responsible Federal Budget.

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