• About Us
  • Advertise
  • Contact Us
  • Privacy Policy
Thursday, March 4, 2021
The Iowa Torch
  • Home
  • State Government
  • Federal Government
  • Local Government
  • Politics
  • Education
  • Opinion
No Result
View All Result
  • Home
  • State Government
  • Federal Government
  • Local Government
  • Politics
  • Education
  • Opinion
The Iowa Torch
The Iowa Torch
No Result
View All Result
Home Federal Government

Axne Introduces Legislation to Provide Tax Relief to Unemployed Americans

New legislation introduced by U.S. Rep. Cindy Axne, D-Iowa, would remove taxes on up to $10,200 in unemployment aid for 2020 tax filing.

byIowa Torch
February 2, 2021
in Federal Government
Reading Time:2min read
Axne Calls for President Trump’s Cabinet to Invoke the 25th Amendment

U.S. Rep. Cindy Axne, D-Iowa, represents Iowa's 3rd Congressional District.

ADVERTISEMENT

WASHINGTON – On Tuesday, U.S. Rep. Cindy Axne, D-Iowa, introduced legislation in the U.S. House of Representatives to provide tax relief for Americans who lost their jobs and utilized unemployment benefits last year – allowing millions of workers to focus their benefits on covering essentials during the coronavirus (COVID-19) pandemic and recession.

RELATED POSTS

Iowa’s U.S. House Delegation Split on Justice in Policing Act

Ernst Urges Census Bureau to Get Data to States

Hinson Speaks Against Federalizing Elections

The Coronavirus Unemployment Benefits Tax Relief Act would waive federal income taxes on the first $10,200 of unemployment benefits received in 2020. The tax relief would extend to both workers who received benefits through federal unemployment programs like Pandemic Unemployment Assistance (PUA) and Pandemic Emergency Unemployment Compensation (PEUC) as well as those who received traditional benefits through their state unemployment insurance fund.

“As we near one year since the beginning of this public health crisis and economic downturn, over 45,000 Iowans are still claiming regular unemployment benefits; and, across the country, tens of millions claimed these benefits at some point over the past year,” Axne said in a released statement. “We expanded these benefits through the CARES Act and other legislation because we knew an adequate and stable source of income would be vital for workers trying to make ends meet. I’m proud to introduce this legislation with Senator Durbin to ensure that these workers don’t face an unexpected tax bill, which could put them into further economic peril this April.”

The CARES Act, passed by Congress in March 2020, provided an additional $600 in unemployment benefits through the end of July. The $10,200 of tax relief provided in this bill would cover 17 weeks of that $600 per week benefit.

This calculation is based on similar tax relief that was provided in the 2009 American Recovery and Reinvestment Act (ARRA). ARRA included up to $2,400 in tax relief to cover unemployment benefits that were provided during the last recession.

The U.S. Department of Labor estimates that more than 18 million Americans are still receiving some form of unemployment benefits. In May, over 25 million Americans were claiming some form of unemployment benefits.

In December, Congress passed new legislation that extended federal unemployment benefits, including an extra $300 per week for all workers, through March 14, 2021.

ADVERTISEMENT

The bill is cosponsored in the U.S. House by U.S. Reps. Bill Foster, D-Ill., Ro Khanna, D-Calif., Andy Levin, D-Mich., and Scott Peters, D-Calif.

U.S. Senator Dick Durban, D-Ill., introduced a companion bill in the U.S. Senate and it is co-sponsored by U.S. Senators Tammy Baldwin, D-Wisc, Bernie Sanders, I-Vt., Mazie Hirono, D-Hawaii, Bob Menendez, D-N.J., Jack Reed, D-R.I., Tammy Duckworth, D-Ill., Catherine Cortez Masto, D-Nevada, and Elizabeth Warren, D-Mass.

Tags: CARES ActCindy AxneCoronavirus Unemployment Benefits Tax Relief ActCOVID-19U.S. House of RepresentativesUnemployment Benefits
ShareTweetShare
ADVERTISEMENT
Iowa Torch

Iowa Torch

The Iowa Torch​ is a for-profit, news organization that focuses on political news as it relates to Iowans.

Related Posts

Axne Votes for the Equality Act, Feenstra, Hinson, and Miller-Meeks Oppose
Federal Government

Iowa’s U.S. House Delegation Split on Justice in Policing Act

March 4, 2021
Federal Government

Hinson Speaks Against Federalizing Elections

March 2, 2021
Reynolds Extends Mask Mandate, Gathering Restrictions By One Week
State Government

Reynolds, Governors Oppose Biased Fund Allocation in Stimulus Package

February 27, 2021
Ernst: ‘We can, and we should, safely reopen our schools’
Federal Government

Ernst: ‘We can, and we should, safely reopen our schools’

February 25, 2021
Axne Votes for the Equality Act, Feenstra, Hinson, and Miller-Meeks Oppose
Federal Government

Axne Votes for the Equality Act, Feenstra, Hinson, and Miller-Meeks Oppose

February 25, 2021
Iowa Delegation Urges Vilsack to Expand COVID-19 Aid Programs for Iowa’s Family Cattle Feeders
Federal Government

Iowa Delegation Urges Vilsack to Expand COVID-19 Aid Programs for Iowa’s Family Cattle Feeders

February 24, 2021
Next Post

Iowa House Ways and Means Committee Approves Doubling Adoption Tax Credit

U.S. House Democrats Reject Hinson’s Bill to Reopen Schools

U.S. House Democrats Reject Hinson's Bill to Reopen Schools

Sign-Up For Our Daily Updates


Recommended Articles

Bill Requiring Full-Time In-Person Learning Option Advances in Iowa Senate

Bill Requiring Full-Time In-Person Learning Option Advances in Iowa Senate

January 25, 2021
Hinson Slams Pelosi’s Attempt to Overturn Iowa 2nd Congressional District Election

Hinson Slams Pelosi’s Attempt to Overturn Iowa 2nd Congressional District Election

January 6, 2021
Reynolds’ Legislative Agenda Draws Praise from the Right

Reynolds’ Legislative Agenda Draws Praise from the Right

January 12, 2021

Popular Stories

  • Iowa Teacher: Why I Resigned After 25 Years of Teaching

    Iowa Teacher: Why I Resigned After 25 Years of Teaching

    0 shares
    Share 0 Tweet 0
  • Iowa House GOP Introduces Bill Allowing Permitless Carrying of Firearms

    0 shares
    Share 0 Tweet 0
  • Iowa Senators Introduce a State Version of the Religious Freedom Restoration Act

    0 shares
    Share 0 Tweet 0
  • Iowa House Bill Limits Product Liability Lawsuits Targeting the Firearms Industry

    0 shares
    Share 0 Tweet 0
  • Democrats Object to Bill Making Technical Improvements to Iowa’s Homeschooling Law

    0 shares
    Share 0 Tweet 0
The Iowa Torch

The Iowa Torch​ is a for-profit, news organization that focuses on political news as it relates to Iowans.

Categories

  • Education
  • Federal Government
  • Iowa History
  • Local Government
  • Opinion
  • Politics
  • State Government

Newsletter


© 2020 The Iowa Torch, a publication of 4:15 Communications, LLC.

No Result
View All Result
  • Home
  • About Us
  • Advertise
  • Contact Us
  • State Government
  • Federal Government
  • Local Government
  • Politics
  • Education
  • Opinion

© 2020 The Iowa Torch, a publication of 4:15 Communications, LLC.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?