“These are people who work important jobs but receive low pay,” said Kris Cox, deputy director of federal tax policy at the Center on Budget and Policy Priorities.
“And they previously received such a small earned income tax credit, that nearly six million people were actually taxed into or taxed deeper into poverty,” she said.
Prior to the American Rescue Plan, workers without children received little benefit from the earned income tax credit.
Both memos are dated Nov. 18 and supersede successive, similarly temporary authorizations, the latest of which were set to expire at the end of 2021. The...
Thirteen years ago, Congress decided a tax credit for companies that blend biodiesel shouldn’t go to refineries that put just a drop of the alternative fuel’s...
Yet, as active as 2021 has been when it comes to state legislation that cuts state income taxes, 2022 is already shaping up to be just...
The new budget approved by the Republican-led North Carolina General Assembly and Governor Roy Cooper (D) make it 13 states where personal income taxes have been cut in...
Tax reform has been on Kentucky lawmakers’ minds for years, and while significant progress has been made recently, substantial work remains to be done. In 2018,...
