Yes, the CARES Act has a tax break that benefits 43,000 millionaires

Posted on AllSides May 29th, 2020
From The Left

The Coronavirus Aid, Relief, and Economic Security Act was a roughly $2 trillion bill passed in March that provided economic assistance to everyone from unemployed workers and beleaguered small businesses to overwhelmed hospitals and state governments. Was it also a giveaway to millionaires?

Yes, according to a May 14 Facebook post.

Using simple text on a black background, the post says: "Hidden in the CARES Act was an obscure $135 billion tax break for 43,000 millionaires. Apparently, no one asked, ‘How are we going to pay for it?’"


Read full story


AllSides Media Bias Rating: Lean Left
AllSides Media Bias Rating: Lean Left
See full bias rating for PolitiFact
Learn about media bias

More News about Inequality from the Left, Center and Right

From the Left

From the Center

From the Right