News Round Up: April 25, 2022
Top Story: California lawmakers discussed Assembly Bill 2589, which would utilize the state’s budget surplus to offer low-income households a one-time $2,000 Child Tax Credit (CTC) per child ages 17 and younger. The bill would also increase the state Earned Income Tax Credit (EITC) to at least $255 for those making $30,000 and under. (The Center Square)
- Connecticut’s budget surplus reached a record high which has led lawmakers to consider adding more tax breaks to the budget, including a state CTC. (NBC Connecticut)
- The White House released a statement that compared President Biden’s tax plan to the Republican-led plan, pointing to the President’s proposed expansion of the CTC, EITC, and Child and Dependent Care Tax Credit (CDCTC) as a way to provide tax relief to the middle class. (The White House)
- A new survey conducted by the Shift Project revealed that most qualified workers from low-income households do not use free tax filing services. Many still pay for tax preparation, sometimes with a week’s wage, which affects their ability to receive the full tax credit refunds. (AXIOS)