I believe that we can work toward providing a strong safety net for all people—and that the tax system will always be an important part of that effort.
Postsecondary education can be a critical step on the path toward economic independence, but many low-income students who are independent for tax purposes face tremendous financial difficulties when trying to complete postsecondary school. Extending the Economic Security Project’s cost-of-living...
The earned income tax credit (EITC) and child tax credit (CTC) provide substantial benefits to working families with children. The EITC also provides modest benefits to workers without custodial children, often called “childless workers” for tax purposes. Together, the credits lift almost 9...
The earned income tax credit (EITC) and child tax credit (CTC) provide substantial benefits to working families with children. The EITC also provides modest benefits to workers without custodial children, often called “childless workers” for tax purposes. Together, the credits lift almost 9...
Policymakers continue to grapple with the related issues of unequal incomes, relatively poor health, education, and economic outcomes for low-income children, and hardship among low- and...
We examine how proposals to modify and expand the EITC would change its impacts during economic downturns. Using components from the Economic Security Project’s Cost-of-Living Refund, we identify three main effects. First, accelerating the credit phase-in (or eliminating it entirely) would...
In recognition of the important work family caregivers do, the Economic Security Project (ESP) has proposed that they be eligible for the cost-of-living refund, an expansion of the earned income tax credit (EITC). Among other changes to the EITC, the cost-of-living refund would extend benefits...
The rise of the gig economy has increased interest in the self-employment sector and highlighted the benefits and costs of these types of jobs. One understudied issue is that self-employment (which overlaps substantially with the gig economy) concerns a part of the tax code that is difficult for...
This report analyzes the main provisions of the federal income tax code that provide benefits to families with children, comparing current law with what would be happening had the TCJA not been enacted, and discusses the TCJA’s implications for families of different income levels. On net, almost...
The earned income tax credit provides substantial assistance to low- and moderate-income workers. Benefits tilt heavily to families with children. Prompted in part by the success of the credit and in part by shortcomings in the credit, policymakers, advocates, and analysts have offered up reform...
Even though jobs are plentiful and wages are up, many families still face a shaky economic outlook. Higher than average inflation, which tends to hit...
As President Biden and congressional Democrats make another push to reach a compromise on a social spending, climate change, and tax bill, a key issue...
As Congress struggles to develop a scaled back version of President Biden’s Build Back Better (BBB) plan, some observers (including my TPC colleague Howard Gleckman...
In 2021, the Child Tax Credit (CTC), helped nearly all families with children . But this year, because American Rescue Plan (ARP) expansions have lapsed,...
Starting in July, many parents began receiving monthly payments of the Child Tax Credit (CTC). A new IPSOS survey as well as Urban Institute interviews...
As Congress debates whether to extend the major, but temporary, changes to the Child Tax Credit (CTC) it adopted earlier this year, a crucial question...
Families began receiving monthly Child Tax Credit (CTC) payments on July 15. For many, those regular payments—currently permitted through the end of the year—will combat...
IRS Commissioner Charles Rettig told the Senate Finance Committee on April 13 that the agency could begin delivering monthly 2021 Child Tax Credit (CTC) payments...
By approving a third round of economic impact payments (EIPs) and expanding refundability of the Child Tax Credit, Congress has made refundable tax credits a...
President Biden, the House Ways & Means Committee, and Senator Mitt Romney (R-UT) agree: They want to increase child benefits to parents who work and...
President Biden and House Way & Means Committee Democrats have proposed increasing the earned income tax credit (EITC) for workers without children at home –...
The plan to expand the Child Tax Credit (CTC) proposed yesterday by House Ways & Means Committee Democrats included an important new feature—the IRS would...
Many low- and moderate-income households no doubt were assisted greatly by enhanced federal unemployment insurance benefits that they received earlier this year and would be...
Congress continues to struggle to reach agreement on a new round of economic relief for millions of people suffering from the effects of the coronavirus pandemic.
As a senator, Kamala Harris has proposed broad legislation designed to raise the incomes of low- and middle-income workers via her LIFT the Middle Class Act.
