News Round Up: February 19, 2024

Top Story: The Wisconsin Senate passed a $2.1 billion tax cut package that expands the state Child and Dependent Care Tax Credit (CDCTC) from 50% to 100% of the federal rate. The package next heads to Gov. Tony Evers’s (D) desk. (WisPolitics)

  • The Internal Revenue Service (IRS) is testing changes in the audit selection algorithm after vowing to reduce audits on filers who claim the federal Earned Income Tax Credit (EITC). (NBC Philadelphia)
  • A recent Boston University study discusses how the 2021 expanded federal Child Tax Credit (CTC) substantially benefited families with children facing economic shocks from health concerns or job loss as consequences of the COVID-19 pandemic. (The Brink)
  • The Center on Budget and Policy Priorities highlights how expanding the federal CTC would benefit millions of workers in low-wage professions, whose families currently receive partial or none of the credit because their household earnings are too low. (Center on Budget and Policy Priorities)