Here is some of what Van Hollen’s proposal would create:
A $1,000 paycheck bonus tax credit: This would provide every worker making up to $100,000 with a $1,000 tax credit — which would reduce their federal tax bill by $1,000.
A saver’s bonus: Any worker who saves at least $500 of his $1,000 tax credit would get an additional $250 to add to his savings.
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