News Round Up: February 21, 2022
Top Story: A new study conducted by Columbia University’s Center on Poverty & Social Policy reveals that nearly 3.7 million more children are experiencing poverty as the child poverty rate increased from 12.1% to 17% within a month of the expiration of the 2021 Child Tax Credit (CTC) expansion. (OPB)
- The Center on Budget and Policy Priorities (CBPP) recently launched a new Tax Time Thursdays series that will air throughout the tax season. The learning series includes presentations and information on EITC outreach and space for outreach organizations and groups to ask questions and share their experiences. (CBPP)
- A recent analysis conducted by the Peter G. Peterson Foundation breaks down the cost of permanently expanding the CTC and Earned Income Tax Credit (EITC) as lawmakers weigh the impact on the nation’s fiscal position. (Peter G. Peterson Foundation)
- A recent study by the Washington University in St. Louis’ Social Policy Institute (SPI) and Appalachian State University indicates that the additional support from the expanded CTC allowed recipients to pursue more self-employment opportunities and careers better suited for them. (Yahoo! Finance)
- Anti-poverty advocates urged lawmakers to protect CTC and EITC payments from being seized from low-income Americans with outstanding federal debts. (Mass Live)
- While many households in New Jersey struggle to make ends meet, 50% of families eligible for the CTC have not yet received their funds, which leaves an estimated $415 million unclaimed. (Patch)
- The 2021 expansion of the EITC’s eligibility requirements may give young workers ages 19-24 an extra $800 in their tax refund this year. (Yahoo!)
- Oregon lawmakers discussed a new bill that would send $600 to more than a quarter-million state residents who filed for the EITC. (KOIN)
- A new Colorado initiative helps guide resident households facing financial hardships through filing for the EITC, CTC, and Child and Dependent Care Tax Credit (CDCTC). (9 News)