There's a Surprise Tax Break in the Latest Stimulus Payment Plan

The coronavirus pandemic has brought the global economy to its knees, and lawmakers in Washington are pulling out all the stops to find ways to support hard-hit Americans. Even after three rounds of legislation aimed to stimulate the U.S. economy, there's been discussion of still more proposals to get money where people need it the most.

On May 12, House Democrats released a massive stimulus proposal, dubbed the Health and Economic Recovery Omnibus Emergency Solutions Act, or HEROES Act for short. Indeed, the proposal was massive not only in its estimated $3 trillion cost but also in its size, with more than 1,800 pages included in the bill. Most of those covering the bill paid the closest attention to provisions calling for another round of stimulus payments, extended unemployment benefits, and other direct financial assistance. However, on page 224 of the 1,815-page bill, lawmakers included an interesting provision that revisits a hard-fought issue for those in many high-tax states.

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