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3 years ago

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Biden seeks replacement of retirement contribution deductions with tax credit

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Biden seeks replacement of retirement contribution deductions with tax credit

Social media posts shared tens of thousands of times claim Joe Biden wants to tax retirement saving plans. This is misleading; the Democrat has proposed no such levy but does want to replace the tax deduction for retirement contributions with a tax credit, a step analysts say would increase the tax burden for wealthy individuals while benefiting those earning less.

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Biden seeks replacement of retirement contribution deductions with tax credit

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Biden seeks replacement of retirement contribution deductions with tax credit

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