News Round-Up: November 13, 2017
Here are some highlights from the past week’s news on family tax credit issues.
As Congress continues a heated debate over tax reform, studies from tax policy experts found that the two latest GOP plans would do little to boost tax credits for working families:
- The Center on Budget and Policy Priorities (CBPP) found that while the Senate Republican tax plan would increase the maximum Child Tax Credit (CTC) from $1,000 to $1,650 per child, millions of children in low-income families would see little to no benefit. (CBPP)
- Similarly, the Center for American Progress argued that though the House GOP tax plan promises to make child care affordable for families, its small expansion of the CTC and failure to expand the Child and Dependent Care Tax Credit (CDCTC) would diminish the plan’s effectiveness at reducing child poverty. (Center for American Progress)
Researchers and advocates from both sides of the aisle called on Republican leaders to make a bigger commitment to reducing poverty by expanding tax credits:
- Writing in Bloomberg View, American Enterprise Institute scholar Michael R. Strain argued that the GOP tax plans should expand the Earned Income Tax Credit (EITC) and CTC. (Bloomberg)
- Sue Parks, president and CEO of Orange County United Way, argued that the EITC is a lifeline for many American families and should be expanded as part of tax reform. (The Orange County Register)
- In an interview on NPR, Ben Lockwood, assistant professor of Business Economics and Public Policy at the University of Pennsylvania’s Wharton School, suggested that expanding the EITC as part of tax reform would both boost wages for low-income Americans and provide an incentive to work. (NPR)
- Angela McKinney, director of the KinderCare Learning Centers in South Florida, argued that Congress should strengthen the CDCTC to help families struggling with work-related child care expenses. (The Miami Herald)
Just before Veterans Day, TCWF released a video about how tax credits help roughly two million veteran and active duty military families make ends meet. (TCWF)