News Round Up: April 18, 2022
Top Story: The Hawaii State Senate recently passed more than 120 bills, including House Bill 510 which makes the state Earned Income Tax (EITC) refundable and extends the credit – currently scheduled to expire at the end of this year – for an additional six years. (The Maui News)
- A recent report from the Brookings Institution found that the 2021 expansion of the Child Tax Credit (CTC) was linked to improved nutrition, increased long-term educational investments, and decreased usage of high-risk financial services among recipients. (The Brookings Institution)
- In a recent policy brief, the Niskanen Center found the Massachusetts state CTC has been an effective tool for supporting working families across the state and proposed several options for expanding the credit, including removing the two-child cap and extending availability to families not enrolled in paid-childcare services. (The Niskanen Center)
- Undocumented California workers have access to the state’s EITC and CTC for the second year in a row after the 2020 expansion of the state tax credits. (LAist)
- According to the Center on Budget and Policy Priorities, roughly 5 million children from 2.6 million veteran or active-duty families will significantly suffer if the 2021 expansion of the CTC is not extended. (GOBankingRates)
- The Vermont Senate Finance Committee is looking to find a happy medium between the House tax relief proposal, which increases the state’s CTC by $48 million, and Gov. Phil Scott’s proposal, which would not increase the size of the credit as significantly but would instead extend availability to more households. The governor’s proposal would also increase the size of the state’s EITC. (VTDigger)