News Round Up: June 8, 2020
The COVID-19 pandemic is disproportionately affecting low-income communities and exacerbating economic inequality across the country. Throughout this crisis, TCWF will compile news, legislation, and research on how tax credits and other income-boosting policies can provide much-needed relief for the hardest-hit communities:
Top story: Elaine Maag, principal research associate at the Urban-Brookings Tax Policy Center, analyzed how the proposed changes to the Earned Income Tax Credit (EITC) in the federal HEROES Act would help boost the economy during a recession and provide financial relief to workers without dependent children. (Forbes)
- The Aspen Institute Financial Security Program released a new report that outlines how the child care system could be improved to promote household financial security and lifts up existing policies that aid families such as the EITC and Child and Dependent Care Tax Credit. (Aspen Institute)
- John Hope Bryant, president and CEO of Operation Hope, encouraged Congress to expand the federal EITC to address the racial wealth gap. (CNBC)
- We blogged about the Center on Budget and Policy Priorities report on how states can use the EITC and other policies to create anti-racist policy responses to COVID-19. (TCWF)