News Round Up: March 22, 2021
Top Story: A recently-updated report from the Center on Budget and Policy Priorities (CBPP) finds that COVID-19’s economic fallout continues to hurt many Americans. Over one in three adults had trouble paying for typical household expenses in the last week when surveyed at the end of February 2021. (CBPP)
- Arkansas State Senator Dave Wallace (R) appealed to his fellow state lawmakers to support a bill proposing a state Earned Income Tax Credit (EITC), which could help support 300,000 families across the state. (Northwest Arkansas Democrat Gazette)
- On Wednesday, March 24, the Connecticut General Assembly is holding a public hearing on legislation to enact a state-level Child Tax Credit (CTC). Connecticut Voices for Children is encouraging residents of the state to sign up to testify in favor of the legislation using this link.
- The Illinois General Assembly is considering two bills to expand the state EITC to include taxpayers who file with Individual Taxpayer Identification Numbers (ITINs), as well as people ages 18-24 and 65+ without dependents. (Chicago Sun Times)
- New Mexico lawmakers voted to expand the state’s Working Families Tax Credit and EITC, creating up to $73 million in annual tax breaks for low-income families. (KANW)
- North Carolina lawmakers proposed legislation to restore the state’s EITC to 5% of the federal credit through 2025, saving lower-income taxpayers an estimated $120 million. The credit was worth 5% of the federal credit from 2008 through 2013, before being reduced to 4.5%. (KPVI)