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Tax credits (individual)

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Research report

Boosting Wages or Helping Children? Understanding How New Earnings and Child Tax Credit Proposals Impact Income Inequality and Vulnerable Children

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...

July 23, 2020
Elaine MaagRobert McClellandC. Eugene Steuerle
Brief
Individual Taxes

Effects of Tax Incentives on Homeownership

Federal tax law provides several tax benefits for homeowners. This chartbook focuses on the home mortgage interest deduction. We provide updated estimates of the distributional effects of the home mortgage interest deduction, show how those estimates could change if people pay down their home...

July 1, 2020
Chenxi LuEric ToderSurachai KhitatrakunRobert McClelland
Research report
Individual Taxes

Shifting Child Tax Benefits in the TCJA Left Most Families About the Same

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...

August 16, 2019
Elaine Maag
Brief
Individual Taxes

Expanding the Earned Income Tax Credit: The Economic Security Project’s Cost-of-Living Refund

The cost-of-living refund (CLR), a proposal from the Economic Security Project, would revise the current earned income tax credit (EITC) by increasing benefits for many people, expanding eligibility for the credit, and paying the credit in advance via monthly payments. The proposal would provide...

June 10, 2019
Elaine MaagDonald MarronErin Huffer
Research report
Individual Taxes

Redesigning the EITC: Issues in Design, Eligibility, Delivery, and Administration

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...

June 10, 2019
Elaine MaagDonald MarronErin Huffer
Research report
Individual Taxes

A Universal EITC: Sharing the Gains from Economic Growth, Encouraging Work, and Supporting Families

This report analyzes a straightforward mechanism to mitigate middle-class wage stagnation: a wage tax credit of 100 percent of earnings up to a maximum credit of $10,000, called a universal earned income tax credit. The child tax credit would increase from $2,000 to $2,500 and be made fully...

May 20, 2019
Leonard E. Burman
Brief
Federal Budget and Economy

Who Benefits from Expanding the EITC or CTC?

The Tax Cuts and Jobs Act (TCJA) missed an opportunity to help low-income childless workers, very low-income families with children, and families with young children – all groups where investments could be particularly productive. The child tax credit (CTC) and earned income tax credit (EITC)...

July 30, 2018
Elaine Maag
Research report
Individual Taxes

Delaying Tax Refunds for Earned Income Tax Credit and Additional Child Tax Credit Claimants

The Protecting Americans from Tax Hikes Act of 2015 requires the IRS to delay tax refunds for taxpayers who claim an earned income tax credit or additional child tax credit on their returns until at least February 15. The delay could help the IRS better check claims for these credits. But this...

December 7, 2016
Elaine MaagStephen RollJane Oliphant
Research report
Individual Taxes

Effects of Reforms of the Home Mortgage Interest Deduction by Income Group and by State

This report considers three options for restructuring the home mortgage interest deduction – replacing the deduction with a 15 percent non-refundable interest credit, reducing the ceiling on debt eligible for an interest subsidy to $500,000, and combining the substitution of the credit for the...

December 6, 2016
Chenxi LuEric Toder
Brief
Individual Taxes

Reforming the Child Tax Credit: An Update

This brief analyzes seven options for Child Tax Credit reform that would (1) make the CTC more consistent with other parts of the tax code; (2) target additional benefits to young children; or (3) broadly increase the credit for most current recipients.

October 19, 2016
Elaine MaagElena Ramirez

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