News Round-Up: September 11, 2017
September 11, 2017Print
Here are some highlights from the past week’s news and upcoming events on family tax credit issues.
- A House Budget Committee proposal to require the IRS to verify incomes for all taxpayers filing for the Earned Income Tax Credit (EITC) could harm millions of low-wage workers and cause serious problems for the agency’s processing of tax returns, according to the Center on Budget and Policy Priorities (CBPP). Currently, the IRS only verifies income for filers selected for audit. (CBPP)
- A campaign to raise Earned Income Tax Credit (EITC) awareness in Detroit has paid off to the tune of $74 million back in taxes for low-wage workers and their families. Detroit Mayor Mike Duggan launched the campaign last year, which featured billboards, brochures, ads on mass transit, stories placed in local news outlets and more. (The Detroit News)
- Connecticut House Democrats proposed reducing the state’s EITC from 27.5 to 25 percent of the federal credit as a way to address the state’s $3.5 billion deficit. (The Hartford Courant)
- In a speech last week, President Trump said tax reform will feature “middle-class” tax relief that “includes helping parents afford child care and the cost of raising a family.” The White House provided few additional details, but many believe Trump was alluding to a proposal to expand the Child Tax Credit for higher-income earners. (The Washington Examiner)
- Personal finance website GOBankingRates unveiled a ranking of “Best and Worst States for Single Parents to Raise a Family,” based on factors such as median household income and the availability of state-level EITCs. States that do not offer an EITC on top of the federal credit tended to rank among the worst, while states with EITCs ranked among the best. (GOBankingRates)