News Round Up: May 13, 2024
Top Story: Ohio Sen. Bill Blessing (R) unveiled plans to create a refundable state Earned Income Tax Credit (EITC) in addition to raising the minimum wage to $15 for non-tipped workers over a four-year period starting in 2028. (WVXU)
- Kentucky Steve Beshear shared plans to enact a state EITC at 7.5% of the federal rate as part of his recently shared $209.8 million tax reform package, ‘Kentucky Competes.’ (The State Journal)
- The Minnesota House and Senate are negotiating plans to expand the state Child Tax Credit (CTC) in effort to settle legislative differences in a compromise bill before the end of the legislative session. (Minnesota Reformer)
- Recent data highlights how Connecticut’s proposed CTC can meaningfully reduce child poverty rates and help address food insecurity. (MSN)
- Internal Revenue Service (IRS) Commissioner Daniel Werfel announced measures to reduce racial disparities in audit rates between Black and non-Black filers and to increase scrutiny of returns from wealthy individuals and major companies. (Live 5 News)
- The National Women’s Law Center (NWLC) led 80 organizations urging U.S. Senate Leadership to attach the House-approved bipartisan tax bill to the Federal Aviation Administration (FAA) reauthorization, as filed by Sen. Wyden (D-OR), or to bring it to the Senate floor for a vote. The full letter can be read here. (National Women’s Law Center)