News Round Up: February 7, 2022
Top Story: After approving a $160 million income tax rate cut, Utah lawmakers are proposing $40 million in additional funding towards tax cuts and the creation of a nonrefundable state-level Earned Income Tax Credit (EITC). (Deseret News)
- With the U.S. Capitol as their back drop, West Virginia moms who traveled to D.C. laid 100 teddy bears across the National Mall as part of their lobbying efforts, calling on Congressional lawmakers to resume the expanded Child Tax Credit (CTC) payments. (Washington Post)
- In Iowa, Democrats in the state’s legislature are proposing an increase in Iowa’s Child and Dependent Care Tax Credit (CDCTC) and the EITC. (KIWA Radio)
- A recent study by the Social Policy Institute reveals there is no major difference in employment levels before and after the expanded CTC became available, debunking Sen. Joe Manchin’s (D-WV) concerns that the program leads to a smaller workforce. (Social Policy Institute)
- In a recent blog post, researchers from The Brookings Institution tackle how the EITC and CTC can address the nation’s racial wealth gap. (Brookings Institution)
- Financial hardships, challenges in meeting basic needs, and navigating stress; Ohio families share how they have been faring as the expanded CTC expires. (Loveland Magazine)