News Round-Up: August 7, 2017
Here are some highlights from the past week’s news and upcoming events on family tax credit issues.
- U.S. Representatives Kevin Yoder (R-KS) and Stephanie Murphy (D-FL) have proposed bipartisan legislation, the Promoting Affordable Childcare for Everyone Act, which would make the Child and Dependent Care Tax Credit refundable and index the credit to inflation to reflect the rising cost of child care over time. (Business Insider)
- A new policy brief from the American Enterprise Institute (AEI) examines potential intersections between an excise tax on carbon and expanding the Earned Income Tax Credit (EITC) for workers without dependent children. (AEI)
- Senator Marco Rubio (R-FL) promoted his plan to expand the federal Child Tax Credit in an Op-Ed for Breitbart, a news site popular with President Trump and his advisors. (Breitbart, The Hill)
- In its latest economic report, the International Monetary Fund (IMF) recommended that the U.S. expand the federal EITC as part of a broader approach to grow the economy. (IMF)
- As Republicans in Congress turn their attention from health care to tax reform, Jeff Spross, economics and business correspondent for The Week, urged that any tax cuts be directed toward lower-wage Americans, in part by expanding tax credits for working families, rather than toward corporations and the wealthy. (The Week)