Tax Credits for Working Families

News Round-up: July 18, 2016

July 18th, 2016

Here are some highlights from the past week’s news and upcoming events on family tax credit issues. 

A number of proposals affecting federal tax credits for working families were unveiled last week:

  • Rep. Jim Renacci (R-Ohio) unveiled a tax reform plan that would replace the corporate income tax with a consumption tax. The proposal would eliminate most personal tax credits but would keep the Child Tax Credit as is and expand the EITC. (The Hill)

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VITA is Vital for Low-Wage Workers. Here’s How We Can Make It Even Better.

July 15th, 2016

By Kate Skochdopole

A recent policy brief from the Corporation for Enterprise Development (CFED) explores the importance of Volunteer Income Tax Assistance (VITA) in helping families reach financial stability and lays out policy options for strengthening the program.

VITA sites offer free tax preparation services for lower-income workers and are staffed by IRS-certified volunteers from the surrounding community. The sites help to raise awareness of tax benefits for low-income filers such as the Earned Income Tax Credit and Child Tax Credit and equip filers with the tools and advice they need to move towards financial stability. VITA programs boast a 94 percent accuracy rate, substantially higher than that of some paid tax preparers.

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News Round-up: July 11, 2016

July 11th, 2016

Here are some highlights from the past week’s news and upcoming events on family tax credit issues. Remember – you also can track news coverage throughout the week by visiting our website, where you can filter news by a specific credit or state.

  • Barbara Gault, executive director of the Institute for Women’s Policy Research, said that expanding access to the Earned Income Tax Credit (EITC) and other public benefits for low-wage workers could help make higher education more attainable for young people in low-income families (Chronicle of Higher Education).
  • Lawmakers in New Jersey are still debating how to fund the state’s transportation projects. One of the proposed fixes would raise the gas tax and increase the state’s EITC from 30 to 40 percent of the federal credit (Washington Post).

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The EITC as a Housing Affordability Tool

July 8th, 2016

By Kate Skochdopole

Across the nation millions of workers employed in full-time, minimum-wage jobs can’t afford to pay the rent on a one-bedroom apartment in their communities. In response, some experts are turning to the EITC as a solution to recent increases in rents and to help more low-income workers gain access to safe and affordable housing.

Peter Dreier, a professor at Occidental College, wrote that the EITC, which enjoys bipartisan support in Congress, could be expanded  to include a housing supplement that would help more low- and middle-income families afford rent. The supplement would vary according to rental costs in a particular location. For example, although everyone who collects the credit would see an increase in their check, an EITC recipient living in San Francisco where rents are very high might receive a larger refund increase than a family in Memphis.

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News Round-up: July 5, 2016

July 5th, 2016

Here are some highlights from the past week’s news and upcoming events on family tax credit issues. Remember – you also can track news coverage throughout the week by visiting our website, where you can filter news by a specific credit or state.

  • The Democratic Party introduced its 2016 party platform and announced support for expanding the Earned Income Tax Credit (EITC) for childless workers, lowering the eligibility age from 25 to 21 and strengthening the Child Tax Credit (CTC) by indexing it to inflation. The platform will be voted on by delegates at the convention July 25-28 and will serve as a legislative guide for Democratic lawmakers across the country (DNC, Washington Post).
  • Foon Rhee of the Sacramento Bee urged California lawmakers to increase the state’s EITC to help reduce growing income inequality across the state (Sacramento Bee).

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Poll: Most Voters Want the Next President and Congress to Do More to Reduce Child Poverty

June 30th, 2016

By Kate Skochdopole

A poll released yesterday by the Children’s Leadership Council finds Americans are more likely to vote for a presidential candidate who will make reducing child poverty a priority.

The poll also found that 63 percent of Americans – regardless of party affiliation – want Congress to increase funding for programs designed to help children and families make ends meet. Although the researchers did not ask participants about their support for particular anti-poverty programs, respondents said they favor policies that support education, health and nutrition.

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News Round-up: June 27, 2016

June 27th, 2016

  • TOP STORY: Rhode Island Governor Gina Raimondo signed into law an expansion of the state’s Earned Income Tax Credit (EITC), increasing the credit from 12.5 to 15 percent of the federal credit. (TCWF, The Providence Journal)

Rhode Island EITC Increase Signed Into Law

June 24th, 2016

Earlier today, Rhode Island Governor Gina Raimondo signed off on a new $8.9-billion budget for the state, which included an increase in the state’s Earned Income Tax Credit (EITC) from 12.5 to 15 percent of the federal credit. 

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New Report Lifts Up EITC as Effective Way to Keep Kids out of Poverty

June 24th, 2016

By Kyle Parrott

This week, a new report lifted up the Earned Income Tax Credit (EITC) as one of the most dependable tools for improving the health of American children and keeping them out of poverty.

The KIDS COUNT Data Book, a report released annually by the Annie E. Casey Foundation, ranks all 50 states in several areas of child well-being and provides a snapshot of how lawmakers at the state and federal level are working to lower the child poverty rate.

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News Round-up: June 20, 2016

June 20th, 2016

Here are some highlights from the past week’s news and upcoming events on family tax credit issues. Remember – you also can track news coverage throughout the week by visiting our RSS feed, where you can filter news by a specific credit or state.

  • The California Department of Finance announced that only half of the funds set aside for the state’s Earned Income Tax Credit (EITC) program were collected during tax season, meaning that thousands of families across the state who are eligible for the credit failed to claim it on their tax returns. Lawmakers have set aside an extra $2 million in the state budget to fund outreach campaigns and raise awareness of the credit, which was created in 2015 to help offset income inequality across the state (Sacramento Bee).

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