News Round-Up: May 30, 2017
U.S. Representatives Danny K. Davis (D-IL) and Suzan K. DelBene (D-WA) introduced the Child Care and Dependent Credit Enhancement Act of 2017, which would expand the federal Child and Dependent Care Tax Credit (CDCTC), index the credit to inflation and make it refundable (Office of Congresswoman Suzan DelBene).
- We blogged about how President Trump’s budget proposal would limit eligibility for the Earned Income Tax Credit (EITC) and Child Tax Credit, exacerbating the racial wealth divide by raising taxes on millions of Latino families (TCWF).
- When surveyed as part of the Federal Reserve Board’s annual Report on the Economic Well-Being of U.S. Households, lower-income Americans identified holding down a job and being able to pay monthly bills as their largest concerns. Bloomberg View columnist Noah Smith pointed to expanding the federal EITC as one of the best ways to address these needs (Bloomberg View).
- A new publication from Connecticut Voices for Children shows how the state‘s EITC is one of the most sensible and effective tools for helping working families meet basic needs.
- More than 26,000 Vermont workers have still not received their personal income tax refunds nearly six weeks after the filing deadline due to a delay in processing. Because many of these workers are low-wage and receive the EITC, these refunds are a substantial portion of their income and vital for paying living expenses (VTdigger.org).
- The United Way of Treasure Valley called for community groups in Idaho to work together to raise EITC awareness to ensure the credit is helping all eligible Idahoans meet basic needs (Idaho Statesman).
- Philadelphia Mayor Jim Kenney signed a bill requiring city employers to give notice of the federal EITC on an annual basis to employees who live both within and outside of the city (JD Supra).