News Round Up: April 24, 2023
Top Story: The Massachusetts House of Representatives passed a $1.1 billion tax relief package that will expand the state Earned Income Tax Credit (EITC) from 30% to 40% of the federal rate. The package also plans to combine two existing dependent care tax credits into one refundable tax credit with a phase-in value of $600 per dependent. (Leominster Champion)
- At the fifth annual Capitol Heels Advocacy Day, Alabama Women’s Foundation highlighted bills in the 2023 legislative session that would promote women’s economic development, including a proposal that would establish a state Child Tax Credit (CTC). (com)
- Connecticut lawmakers left out a state CTC in this year’s state budget. Gov. Ned Lamont (D) shared that he would only support the tax credit if it stays within the state spending cap. (News 12 Connecticut)
- Connecticut lawmakers consider expanding the state EITC to 40% of the federal rate as part of a larger tax package proposal. (The Center Square)
- The Maine Center for Economic Policy’s recent opinion piece promotes the benefits of passing LD 1544, which would make the state CTC fully refundable and increase the tax credit’s value from $300 to $350 per child. The expansions would lift an estimated 3,500 Maine children out of poverty. (Bangor Daily News)
- AARP’s latest report argues that removing the age cap on the federal EITC would help keep workers 65 and older out of poverty. The report, which includes survey results from adults ages 50 and older, also underscores that 75% of the participants supported revoking the age cap. (AARP)