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Summary

The Earned Income Tax Credit (EITC) is a refundable federal income tax credit for low-income working individuals and families, aiming to offset social security taxes and provide a work incentive. The Center for American Progress proposes four improvements: excluding half of the lower-earning spouse's income, increasing the EITC benefit for families with three or more children, extending the EITC to childless workers aged 18-24, and increasing EITC benefits for childless workers. Additionally, the Child Tax Credit can be strengthened by making it fully refundable and adjusting for inflation, providing more support to low-income families and boosting economic prosperity.

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The Earned Income Tax Credit (EITC) is a refundable federal income tax credit for low-income working individuals and families, aiming to offset social security...

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  • File Format: PDF
  • File Size: 128 KB
  • Pages: 3
  • Language: EN
  • Total Downloads: 31
  • Last Updated: 2 months ago

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