The Republican lawmaker is set to reveal legislation that would make most bonus deals given out as a result of President Trump’s taxes reform plan tax-free — plus took a jab at Home Minority Leader Nancy Pelosi with all the bill’s name.
Rep. Todd Rokita, R-Ind., has dubbed his expenses the “Creating Relief and Helpful Middle-Class Benefits and Savings” — or “CRUMBS” Act. Pelosi, D-Calif., famously referred to the bonuses since “crumbs” in criticizing the taxes plan last month.
“Americans are getting thousands of dollars in bonuses and more profit their paychecks thanks to President Trump’s tax reform, but out-of-touch Democratic leaders believe they only total crumbs, ” Rokita said within a statement. “The CRUMBS Act may let Americans keep more of the cash they receive as a result of President Trump’s tax reform, and allow them, not really the government, to choose how best to invest their bonuses
Rokita’s bill would create bonuses received by workers within 2018 tax-free up to $2, five hundred. Since tax reform was authorized into law this past December, several companies have given out bonuses plus pay raises in anticipation associated with increased tax savings.
According to a tally by Us citizens for Tax Reform , 346 companies have given workers bonus deals or raises or increased efforts to employees’ 401(k). Those businesses include AT& T, which offered $1, 000 bonuses to two hundred, 000 employees; automaker Fiat The chrysler, which gave at least 60, 1000 workers bonuses worth up to $2, 000; and moving company U-Haul, where more than 28, 000 complete and part-time employees received bonus deals ranging from $500 to $1, two hundred.