GOP Raises Taxes On Overseas American Workers To Give More Money To The Rich

Yahoo News AP -- The biggest single item on the list would raise $35 billion over a decade by eliminating a tax break that long has allowed Americans working and living abroad to avoid paying federal income taxes on up to $80,000 in wages. In addition, they may exclude foreign housing allowances, up to a limit. According to IRS figures provided by Senate officials, roughly 358,000 individuals benefited from the provision in 2000. At a cost to the Treasury of $35 billion over a past decade, the average 10-year tax savings would be more than $97,000.

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