News Round Up: July 4, 2022
Top Story: New Jersey Gov. Phil Murphy (D) recently signed into law a $500 state Child Tax Credit (CTC) aimed at low- and middle-income families. Taxpayers who earn $80,000 or less and file taxes with a social security number or an Individual Taxpayer Identification Number (ITIN) are eligible. (NJ.com)
- In a series of budget bills, California Gavin Newsom (D) signed legislation to expand the eligibility for the state’s young CTC and adjust the value of the credit for inflation. The bill will expand the credit to about 55,000 more families. (Sierra Sun Times)
- Hawai’i David Ige (D) recently signed legislation to make the state Earned Income Tax Credit (EITC) permanent and refundable. (Big Island Now)
- Virginia’s recently-passed budget deal includes legislation to make the state EITC will become fully refundable. (The Center Square)