According to one survey, 57 percent of Americans don’t have enough cash to cover a $ 500 unexpected expense. That’s one of the reasons I’ve introduced the LIFT the Middle Class Tax Act in the U.S. Senate, a bill that creates a major new middle-class tax credit that would provide eligible families up to $ 6,000 a year—the equivalent of $ 500 a month. Families would be able to receive the credit as a monthly stipend, rather than wait for a refund the following year. It’s a different kind of safety net, one that prevents hardworking people from falling out of the middle class, or gives them a fair shot at attaining it for their families. This is the kind of tax relief we can provide when we stop giving endless tax cuts to corporations and the wealthy.
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