News Round Up: December 16, 2019
Here are some highlights from the past week’s news and upcoming events on family tax credit issues:
Top Story: The Utah State Legislature approved a tax package that includes the creation of a state-level fully refundable Earned Income Tax Credit (EITC) worth 10 percent of the federal credit. The legislation now heads to Governor Gary Herbert (R) for his signature. (TCWF)
- As part of his presidential campaign, former New York City Mayor Michael Bloomberg released several policy proposals that include a proposal to expand the federal EITC’s value for families and workers without dependent children, make the credit easier to administer, and create a pilot program to expand the EITC eligibility to include caregivers and other forms of unpaid work. The proposal would also make the Child Tax Credit (CTC) fully refundable and lower the phase-in rate. (Mike Bloomberg 2020)
- The Tax Foundation released a new report on how the federal EITC could be reformed to reduce its complexity and make it more accessible to low-income workers. (Tax Foundation)
- The Center on Budget and Policy Priorities (CBPP) released new data on how various federal policies to drastically expand the EITC and CTC would impact American Indians and Alaska Native families across the country. (CBPP)
- We blogged about a new Prosperity Now policy brief that recommends legislators enact the Working Families Tax Relief Act to improve the EITC and CTC for working families and advance racial equity. (TCWF)