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Brief

Extending the Earned Income Tax Credit: How the Economic Security Project’s Cost-of-Living Refund Would Affect Family Caregivers

Elaine Maag, Melissa M. Favreault, Nikhita Airi
January 30, 2020
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Abstract

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 to family caregivers who have little or no earnings from paid employment, essentially expanding the kinds of work eligible for tax benefits. We estimate the caregiver provisions of the proposal would increase tax benefits for 2.6 million families in 2020. The proposal would provide $2,830 billion in tax benefits over fiscal years 2019–28; extending full benefits to low-income family caregivers would account for about $180 billion of those costs. Benefits from the caregiver provision would be highly concentrated among very low-income families.

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Individual Taxes Federal Budget and Economy Campaigns, Proposals, and Reforms
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Meet the Experts

  • Elaine Maag
    Senior Fellow, Research
  • Melissa M. Favreault
    Senior Fellow
  • Nikhita Airi
    Research Analyst
Research report

New Evidence on The Effect of The TCJA On the Housing Market

Robert McClelland, Livia Mucciolo, Safia Sayed
March 30, 2022
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