News Round Up: April 12, 2021
Top Story: New Mexico’s Gov. Michelle Lujan Grisham signed a bill significantly expanding the state’s Working Family Tax Credit last week. The legislation expands eligibility for the credit to taxpayers over 18 and who use Individual Taxpayer Identification Numbers (ITINs), and beginning in 2023 the credit will be worth 25% of the federal Earned Income Tax Credit (EITC). (Office of the Governor)
- A new blog post from the Center on Budget and Policy Priorities (CBPP) analyzes the policies that states can enact to create more equitable and antiracist tax codes, including offering refundable tax credits like the EITC and Child Tax Credit (CTC) to low-income families. (CBPP)
- A new blog post from the Urban-Brookings Tax Policy Center examines the history of the Child Tax Credit and the real-world benefits of its expansion under the American Rescue Plan Act. (Tax Policy Center)
- Illinois state Sen. Mike Simmons (D) proposed legislation that would provide a state CTC worth $600 per child to individuals earning below $40,000 annually and joint filers earning below $60,000 annually, emphasizing the credit would help support parents hit hard by the pandemic. (Chicago Sun-Times)
- University of Washington economics and public health professors urged the state legislature to fully fund the state’s Working Families Tax Credit during this legislative session, underscoring its role in rectifying historical inequities. (Washington State Wire)