- Obama budget would expand low-income tax break, By Jackie Calmes, March 3, 2014, New York Times: “When President Obama releases his proposed annual budget on Tuesday, he will grab his best opportunity of the year to show, in one comprehensive package of hard numbers and precise detail, how he would have the government address what he has called ‘the defining challenge of our time’ — economic inequality. Many of Mr. Obama’s perennial proposals on education, job training, research and more have hit a Republican wall in Congress, but this year the president is adding one with echoes of Republicans’ own ideas. He will propose expanding a longstanding tax break to better benefit workers who are childless, which the White House estimates will help 13.5 million additional Americans who hold jobs yet remain poor. The current tax break favors low-wage workers with children…”
- Obama budget urges expanding earned income tax credit, By Aamer Madhani, March 3, 2014, USA Today: “President Obama’s 2015 budget to be unveiled on Tuesday will include a proposal to expand the earned-income tax credit for 13.5 million low-income Americans by closing tax loopholes benefiting certain fund managers and high-income, self-employed workers. Under Obama’s proposal, 7.7 million workers would be eligible for a larger credit and 5.8 million workers would be made newly eligible for the credit…”
Tag: Earned income tax credit (EITC)
Earned Income Tax Credit
A renewed push for Earned Income Tax Credit in states, By Jake Grovum, February 11, 2014, Stateline: “A push to boost tax credits for the working poor could see success in states this year, echoing a key proposal from the White House. In the opening days of 2014 legislative sessions, bills that would expand or create the Earned Income Tax Credit have been introduced in nine states, according to the National Conference of State Legislatures. Four of those states are looking to create new state versions of the credit. These moves would build off the federal credit of the same name that President Barack Obama proposed to expand in his State of the Union speech last month. Governors on both sides of the aisle have also backed the idea, thanks in part to newly flush budgets and an eye toward aiding their economies by boosting workers’ incomes…”
Earned Income Tax Credit
America’s most effective anti-poverty program is also its most overlooked, By Amber Phillips, February 4, 2014, Salt Lake Tribune: “Most people dread filing their taxes. But for Denver resident Corrine Fowler, it turned out to be a lifesaver back in 1997. Around Christmas, the then-22-year-old single mom lost both her jobs as an administrative clerk and hostess while putting herself through school. She had little money for the new year. But when Fowler filed her taxes, she learned that she qualified for the Earned Income Tax Credit, an often overlooked federal program that gives tax refunds to lower-income workers. The $1,800 check she received helped her pay her rent until March, when she had landed a job as a bank teller…”