Tax Credits for Working Families

Archive for the ‘Weekly News Round-Up’ Category

News Round-up: May 23, 2016

May 23rd, 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 Oklahoma House voted to make the state’s Earned Income Tax Credit (EITC) non-refundable, which will decrease the size of or eliminate the credit entirely for more than 200,000 low-wage workers. Supporters of the bill say that cutting the credit is necessary to balance the state’s budget. But advocates for the EITC argue that the measure would only save $29 million from a $1.3 billion budget shortfall and that lawmakers should find other programs to reduce the deficit that are less harmful to low-income workers. The bill has already passed the state Senate and now heads to Gov. Mary Fallin (R) for her signature (Huffington Post, Public Radio Tulsa, Washington Times).

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News Round-up: May 16, 2016

May 16th, 2016

  • The Oklahoma Senate Appropriations Committee passed a bill to eliminate the refundable portion of the state’s Earned Income Tax Credit (EITC). Policy groups, religious leaders and other advocates across the state are calling on lawmakers to preserve the credit’s refundability (Oklahoma Policy Institute, Tulsa World).
  • Democratic presidential candidate Hillary Clinton announced her plans to create tax credits and subsidies to lower the cost of child care across the country. Although the campaign has not released details of her proposal, the Center for American Progress, which has been advising Clinton on policy, has recommended creating a new child care tax credit, which could be worth up to $14,000 per child (Washington Post).

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News Round-up: May 9, 2016

May 9th, 2016

  • Rep. Rose DeLauro (D-Conn.) and Center for American Progress President Neera Tanden encouraged Congress to support the Young Child Tax Credit Act. The bill, which House Democrats introduced in March, would provide families who have a child under age three with a $1500 credit on top of their Child Tax Credit (CTC) (Huffington Post).
  • The Shriver Center released its annual poverty scorecard, which found that Congress is more divided than ever when it comes to anti-poverty policy (TCWF).

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News Round-up: April 18, 2016

April 18th, 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.

  • Senators Cory Booker (D-NJ) and Jerry Moran (R-KS) announced a bipartisan plan – the Refund to Rainy Day Savings Act – to give workers the option to increase the amount of their Earned Income Tax Credit (EITC) and other tax refunds by putting a portion of the payment into savings (The New York Times, CFED, TCWF).
  • Despite strong momentum throughout the legislative session, a bill to expand Maryland’s EITC for childless workers did not pass after it was coupled with a costly proposal to increase tax breaks for higher-income earners (Baltimore Sun).

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News Round-up: April 11, 2015

April 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 RSS feed, where you can filter news by a specific credit or state.

  • As states like California and New York raise their minimum wages to $15 per hour, some pundits argue that the Earned Income Tax Credit (EITC) is a better strategy for reducing poverty and incentivizing work. But Eric Reed at The Dallas Morning News wrote, and many experts agree, that the two policies are complementary and that the economy is better off when states increase both together (Dallas Morning News).
  • The Maryland legislature must act by this evening to pass bills to increase the state’s EITC for childless workers. The Senate’s version of the bill contains a controversial tax cut for the highest-income earners (Baltimore Sun, Washington Post, Reading Eagle).

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News Round-up: April 4, 2016

April 4th, 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.

  • Republican state legislators in Delaware introduced a package of bills to combat poverty across the state with the goal of making Delaware the lowest-poverty state in the nation by 2024. The eleven bills included a measure to make the state’s Earned Income Tax Credit (EITC) refundable (Delaware Online, Delaware State News).
  • One week remains in the 2016 Maryland General Assembly session, leaving lawmakers little time to decide if an expansion of the state’s EITC should be coupled with a tax break for high-income earners (WBAL TV).

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News Round-up: March 28, 2016

March 28th, 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.

  • Andrew Hanson of Real Clear Policy encouraged presidential candidates to support and expand the reach of the Earned Income Tax Credit (EITC), specifically by indexing the size of the credit to a city’s cost of living. Because the real value of an EITC benefit is higher in cities with a lower cost of living compared with big cities where basic living expenses are more expensive, the EITC is less effective at helping low-income families make ends meet in these cities (R Steet).

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News Round-up: March 21, 2016

March 21st, 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.

  • In Maryland, the House of Delegates passed a bill to expand the state’s Earned Income Tax Credit (EITC). The bill, which was supported by both Democratic lawmakers and Gov. Larry Hogan (R), would increase the credit for workers without children and lower the age limit from 25 to 21. The Maryland Senate is considering a similar version of the bill.  However, the Senate bill includes a large tax break for the wealthy and advocates are urging legislators not to support it. (Baltimore Sun, WBAL).

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News Round-up: March 15, 2016

March 15th, 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.

  • Today is VITA Awareness Day 2016, and advocates across the country are celebrating free and reliable tax preparation for low-wage workers. A new breakdown of IRS data conducted by the Corporation for Enterprise Development (CFED) found that Volunteer Income Tax Assistance (VITA) preparers have higher accuracy rates than paid tax preparers. VITA volunteers helped return nearly $4 billion in tax refunds to more than 3 million lower-income Americans in 2015, the data showed (CFED, TCWF).
  • Tax credits for working families are on the move in New Jersey. The State Assembly Appropriations Committee approved a bill to expand New Jersey’s Earned Income Tax Credit (EITC) to 40 percent of the federal credit, and the Assembly Human Services Committee approved a bill to create a state-level Child and Dependent Care Credit last week (PolitickerNJ, The Bergen Dispatch).

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News Round-up: March 7, 2016

March 7th, 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.

  • Momentum continued to grow around plans to expand the federal Earned Income Tax Credit (EITC) to childless workers, which President Obama and House Speaker Paul Ryan have both endorsed. The Center on Budget and Policy Priorities wrote that childless workers and noncustodial parents are the only group of Americans who are consistently taxed into poverty – a problem an increased EITC could help mitigate (Center on Budget and Policy Priorities, The Fiscal Times).
  • Register now for Thursday’s webinar from TCWF and the Center on Budget and Policy Priorities. The webinar, Putting Your Best Foot Forward on EITC: New Research on Messages that Work, will address how to run effective EITC campaigns using strong messaging. It will be held from 2:00-3:00 p.m. EST.

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