Discover and read the best of Twitter Threads about #eitc
Most recents (15)
On June 1, #Virginia’s House & Senate passed a compromise #VaBudget. It included some positive changes, like increased funding for #K12 schools, and some harmful changes, like setting up a diversion of $$ from affordable housing and new crimes related to marijuana. 🧵 (1/
Yesterday, Gov. Youngkin proposed amendments to the compromise #VaBudget. Some are technical fixes, others are positive, but some would move #Virginia backward by reinstating damaging policies, pitting communities against each other, and weakening transportation in Virginia. (2/
First, the Gov has re-proposed suspending VA's retail gas tax for 3 months. "Savings" from this policy would end up in the pockets of the oil industry & out-of-state residents. This proposal would slash 100s of millions in funding for transportation. thecommonwealthinstitute.org/the-half-sheet… (3/
As Michiganders work hard & play by the rules, Republicans devise plans like a $2B giveaway to corporations that raked in profits during the pandemic. That's 6X what the GOP would offer nurses, first responders &other working families — &they're hoping you won't notice. #mileg 1/
"When I think of who needs the biggest break right now, it's exhausted teachers, nurses, childcare providers, grocery clerks & delivery drivers. The ppl who have suffered most during COVID, making middle class wages, w/ mouths to feed & bodies to clothe." — Sen. @jimananich 2/
Sen. @JimAnanich on the GOP bill to shower corporations that profited during the pandemic w/ $2B in giveaways:
“The small businesses that have truly struggled during the pandemic – like restaurants & brick-and-mortar retailers – would get virtually nothing.” 3/ #mileg
“The small businesses that have truly struggled during the pandemic – like restaurants & brick-and-mortar retailers – would get virtually nothing.” 3/ #mileg
🎊Welcome to EMS's regular Friday briefing. Today we're discussing what you all need to know for the upcoming 2022 #taxseason. You can also follow the conversation via FaceBook live fb.me/e/1Afq7p7BB @IRSnews
And for help filing and preparing tax returns on IRS.gov, visit the official IRS website. irs.gov/help
There will be more help coming beyond what we discuss today, says #IRS Commissioner Chuck Rettig. "It is our intent that filings are as smooth and seamless as possible."
What the Child Tax Credit fight says about America - @DrRichBesser & @DAcevedoGarcia - The Hill bit.ly/3Kxdq1U
#ChildTaxCredit #InvestInKids #CutChildPoverty (1)
#ChildTaxCredit #InvestInKids #CutChildPoverty (1)
On Child Tax Credit expiration:
“no help came this past week because we let the expanded credit expire during an unprecedented surge in COVID-19 cases and hospitalizations, and with prices rising on everything from groceries to utility bills.” - @DrRichBesser @DAcevedoGarcia (2)
“no help came this past week because we let the expanded credit expire during an unprecedented surge in COVID-19 cases and hospitalizations, and with prices rising on everything from groceries to utility bills.” - @DrRichBesser @DAcevedoGarcia (2)
“The expanded credit kept at least 3 million children out of poverty every month between July and November, leading to a 30 percent decline in child poverty rates overall.” - @DrRichBesser @DAcevedoGarcia
#CutChildPoverty (3)
#CutChildPoverty (3)
The story of the #BuildBackBetter has yet to be written. Let’s examine the 50 Republican US Senators who are voting against lifting children out of poverty, education,elder care, affordable prescription drugs, child care & family leave? What does this mean for YOUR STATE?
#ALABAMA Sen. Richard Shelby is voting against the #ChildTaxCredit “The Center on Budget &Policy Priorities found making the program permanent would benefit 93% of #AL children,lift 162,000 #AL children above/closer to poverty line & benefit 480,000 #AL children under 17.
#ALABAMA Sen. Tommy Tuberville has offered you no solutions; he has admitted that he “wouldn’t have a clue” how to address the current pandemic and recently told people that $600 per week in federal unemployment benefits was just “too much.” al.com/news/2021/12/a…
Thread: The #BuildBackBetter framework would extend for 1 year the Rescue Plan expansions of the #ChildTaxCredit & EITC for adults not raising children & do important work but for low wages
Plus: it makes the driver of the child poverty reduction–“full refundability”– permanent!
Plus: it makes the driver of the child poverty reduction–“full refundability”– permanent!
The framework extends for one year the Rescue Plan’s full #ChildTaxCredit expansion: $3,600 for young children and $3,000 for 6-17 year-olds.
It makes the key feature for cutting child #poverty -- “full refundability” – PERMANENT. This means that the full credit will permanently go to children in families with low or no income.
Thread: Senate Budget Committee Democrats’ agreement on a budget resolution marks an important step toward robust and critically needed recovery legislation to build an equitable economy and address our nation’s long-standing challenges. #EquitableRecovery
There are many key details that haven’t been released and, in some cases, haven’t been worked out, but the last 48 hours demonstrate encouraging progress towards transformative change.
Once a budget resolution is in place, lawmakers will turn to the important work of crafting reconciliation legislation, consistent with that framework, that can transform our economy…
Here's a thread of everything Trump, McConnell, and Senate Republicans should be doing to help Americans get through this pandemic -
INSTEAD of jamming through a Supreme Court nomination.
INSTEAD of jamming through a Supreme Court nomination.
Rent relief.
Families are being kicked out of their homes during a pandemic.
Rent relief has been sitting on McConnell's desk for 5 months. #RentReliefNow
dispatch.com/story/news/loc…
Families are being kicked out of their homes during a pandemic.
Rent relief has been sitting on McConnell's desk for 5 months. #RentReliefNow
dispatch.com/story/news/loc…
More stimulus checks.
In eight months, Americans have received just one $1,200 check.
There should be quarterly, $2,000 checks.
marketwatch.com/story/desperat…
In eight months, Americans have received just one $1,200 check.
There should be quarterly, $2,000 checks.
marketwatch.com/story/desperat…
#STIMULUSPACKAGE negotiations update: “Dear Democratic Colleague” letter from @SpeakerPelosi outlines key Trump shortcomings that actively harm the American people; vows to pass relief. 🧵
#STIMULUSPACKAGE: “the Trump Administration’s latest offer shortchanges state and local governments that provide most services Americans depend on.” @AppropsDems Chair Nita Lowey appropriations.house.gov/news/press-rel…
TRUMP “refuses to put a national testing, tracing and surveillance plan in place ... delays funding to states ... does nothing to address barriers and needs of communities of color that have been disproportionately impacted by #COVID19.” -@FrankPallone energycommerce.house.gov/newsroom/press…
#UBI is the strategic solution to protect the ruling classes from Molotov cocktails & global civil unrest. Disclosures on coming "disbanding of existing safety-net programs" are not included in the foundation funded marketing campaigns.
"Cutting a wide array of existing programs — such as the earned income tax credit (#EITC), #child tax credit (#CTC), temporary #assistance to needy families (#TANF), supplemental #nutrition assistance program (#SNAP), & #disability insurance — would cover only 1/5 of the cost..."
#UBI will "result in a massive loss of existing transfers to people w/ #disabilities & #families w/ children. This approach would exacerbate the needs of the most vulnerable members of society."
"CivilSociety" "leaders" are 21st century commodities created/utilized by the rich.
"CivilSociety" "leaders" are 21st century commodities created/utilized by the rich.
Families struggling to make ends meet need more than a one-time $1,200 payment.
Here's what I'm calling for to help #WorkingFamilies:
▶️$2,000 stimulus checks every quarter for adults
▶️Expanding the Earned Income Tax Credit and the Child Tax Credit
#FundFamilies
Here's what I'm calling for to help #WorkingFamilies:
▶️$2,000 stimulus checks every quarter for adults
▶️Expanding the Earned Income Tax Credit and the Child Tax Credit
#FundFamilies
Expanding & increasing #CTC & #EITC would
âś…help lift millions out of poverty
âś…keep families stable
âś…provide a much-needed boost to the economy
That's why I introduced a temporary expansion of these programs with @SenatorBennet @SenatorDurbin and @RonWyden.
âś…help lift millions out of poverty
âś…keep families stable
âś…provide a much-needed boost to the economy
That's why I introduced a temporary expansion of these programs with @SenatorBennet @SenatorDurbin and @RonWyden.
New report by the California Policy Lab:
Can informational "nudges" about the #EITC and #CalEITC increase tax filing and claiming rates for the credits?
bit.ly/IncreasEITCs (1)
Can informational "nudges" about the #EITC and #CalEITC increase tax filing and claiming rates for the credits?
bit.ly/IncreasEITCs (1)
The federal Earned Income Tax Credit and the California Earned Income Tax Credit (CalEITC) can provide a substantial financial boost to low-income Californians--BUT--you have to file taxes to claim them: bit.ly/IncreasEITCs (2)
In a series of randomized trials, over 1 million low-income Californians who were likely eligible for the EITCs received text messages or letters, telling them about the credits. bit.ly/IncreasEITCs #RCT (3)
NOW: Watch panelists @jasonfurman, @HilaryHoynes, and Jesse Rothstein, and chair @joshbivens_DC discuss social safety nets, like universal basic income #UBI, unemployment insurance, and more. Tune in #Inequality2019: piie.com/events/combati…
@jasonfurman @HilaryHoynes @joshbivens_DC .@jasonfurman is discussing tax and transfer systems at #Inequality2019. piie.com/events/combati…
@jasonfurman @HilaryHoynes @joshbivens_DC Macro policies can help with pre-tax wages, especially at the bottom, says @jasonfurman. #Inequality2019 piie.com/events/combati…
1/ Moments ago at the CA Democratic Party state convention, I announced that I will not run for President of the United States in 2020. I gave the question a lot of consideration because I believe our next President must make Ending Poverty the governing agenda of our nation.
2/ As I’ve traveled our country, I’ve been moved by the number of Americans — and single moms — who are hurting just like my mom hurt when she was raising me by herself and when, even though she worked as hard as a mom could work, we lost our home to foreclosure.
3/ Somewhere along the way, we gave up the question of poverty to the statisticians and their arbitrary poverty line. But when nearly 8 out of 10 Americans live paycheck to paycheck, the middle class is dead. We have a Poverty Crisis. Yet how rarely do you hear the word Poverty?
Exciting news! My paper with @michelmorek on The Long-Term Impact of the Earned Income Tax Credit on Children’s Education and Employment Outcomes is now on the Journal of Labor Economics site:
doi.org/10.1086/697477
Brief summary:
doi.org/10.1086/697477
Brief summary:
We find that an additional $1,000 in EITC exposure when a child is 13–18 years old increases the likelihood of completing high school (1.3%), completing college (4.2%), and being employed as a young adult (1.0%) and earnings by 2.2%.
We find larger educ effects for minorities, kids of single-parents, kids with parents that did not go to college.
Economists already knew that the EITC improved health and test scores of young kids; we show that the positive effects of the program last through young adulthood
Economists already knew that the EITC improved health and test scores of young kids; we show that the positive effects of the program last through young adulthood
