Here are some highlights from the past week’s news and upcoming events on family tax credit issues.
On CBS’s “Face the Nation” Sunday, House Speaker Paul Ryan defended the GOP tax reform framework released last week, crediting the proposed Child Tax Credit (CTC) expansion with helping to provide tax relief for middle-income families. Speaker Ryan also suggested that Congress was “still looking at” expanding the Earned Income Tax Credit (EITC) for childless workers as part of tax reform. (CBS News)
We blogged about the GOP’s CTC proposal, noting that the proposed expansion would primarily benefit middle-income families as opposed to those with lower wages. (TCWF) Republican Senators Marco Rubio and Mike Lee also responded to the proposal, saying “Given the fundamental reforms of the framework, the child credit must be at least doubled in order to ensure working families get real tax relief.” (Office of U.S. Senator Marco Rubio)
Despite renouncing tax increases of any kind, Republicans in the Connecticut legislature have proposed a state budget that drastically reduces the size of the state’s EITC, amounting to a $75 million tax increase on low-wage workers in the state. (Hartford Courant 1, 2)