The Earned Income Tax Credit helps working families in Iowa

The Earned Income Tax Credit helps working families in Iowa

There’s been a lot of talk about tax cuts this legislative session. One proposal we’re supporting could have a big impact for those who need it most: The Earned Income Tax Credit (EITC).

EITC is a tax credit for working families and individuals, and is one of the largest, most effective anti-poverty tools in the United States.

Who qualifies?

  • You may qualify for EITC if you worked any time last year.
  • If you do not have any children and earned less than $13,980, you could get as much as $475.
  • If you have one child and earned less than $36,920, you could get as much as $3,169.
  • If you have at least two children or dependents and earned less than $41,952, you could get as much as $5,236.
  • Income limits for married workers are $5,210 higher.

This session CCI is pushing to expand EITC to 120% of the poverty level (SF 422). This actually puts more money in the hands of the working poor, as opposed to Governor Branstad’s plans to cut taxes for big corporations.. Expanding the EITC would help a lot more people – it would benefit individuals, families, our neighborhoods and communities, and all for a fraction of the cost of Branstad’s corporate give-aways.

This EITC bill, SF 422, passed out of the Senate Ways and Means subcommittee. It will now move to Senate Ways and Means full committee.

CCI will be there to stand up for this bill so more low income Iowans get some relief.

 

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