News Round Up: January 31, 2022

Top Story:  As negotiations continue around President Biden’s stalled Build Back Better agenda, House Majority Whip Rep. James Clyburn (D-SC) floats the idea of lowering the income cap for the Child Tax Credit (CTC) in an effort to encourage the Senate to pass the bill.  (The Hill)

  • A recent report by Magnify Money by Lending Tree revealed Mississippi, Indiana, Pennsylvania, New York and Nevada are the top five states that urgently need the advanced CTC the most. (Magnify Money)
  • Parents across the nation are sounding off, expressing how the expanded CTC was a lifesaver and without it they are in survival mode. (NBC News)
  • The Washington Post Editorial Board has even weighed in on the potential dangers of allowing the expanded CTC to expire. (Washington Post)
  • In recapping Earned Income Tax Credit (EITC) Awareness Day, DC Mayor Muriel Bowser announced free tax preparation services for low and moderate DC residents to ensure Washingtonians are able to take advantage of the EITC. (Executive Office of the Mayor)
  • Across the DC line and into Montgomery County, Maryland, County Executive Marc Erlich kicked off EITC Awareness Day by encouraging residents to take advantage of all tax credits. (Montgomery County Media)
  • Meanwhile, Oregon’s Bureau of Labor and Industries is reminding employers that they are required to notify their employees that they may be eligible for the EITC. (Oregon Business Report)
  • February 9 will be an important date for Connecticut, as Governor Ned Lamont is expected to unveil his proposal for $75 million to be invested towards the EITC. (Yahoo News)
  • In honor of EITC Awareness Day, we blogged about the top 10 reasons why we love the EITC. (TCWF)