Missouri May Soon Have Its Very Own EITC
Lawmakers in Missouri are closer than ever to enacting a state-level Earned Income Tax Credit (EITC).
HB 1605, which the House is considering, would create a nonrefundable EITC equal to 20 percent of the federal credit. State advocates estimate that the bill would help as many as 515,000 Missouri families become financially stable.
“A state EITC would help grow our economy by encouraging more individuals to enter the workforce and by increasing the ability of workers to provide for their families,” said Amy Blouin, executive director of the Missouri Budget Project, part of a coalition working to create a state EITC.
Advocates had hoped the legislation would create a refundable EITC, which is more effective at helping the lowest income families. But Blouin says that just creating a credit is an important first step.
“The EITC is one of the best ways Missouri can help all working families have the opportunity to build better lives and achieve economic security,” she said.
Advocates are also turning their focus to passing a similar bill in the Senate before the legislative session ends on May 13.
To find out more about HB 1605, click here.
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