News Round Up: July 6, 2020
The COVID-19 pandemic is disproportionately affecting low-income communities and exacerbating economic inequality across the country. Throughout this crisis, TCWF will compile news, legislation, and research on how tax credits and other income-boosting policies can provide much-needed relief for the hardest-hit communities:
Top Story: U.S. Representatives Nita Lowey (D-NY-17) and Richard Neal (D-MA-01) introduced the “Child Care for Economic Recovery Act,” which would make the Child and Dependent Care Tax Credit fully refundable and double the value of the credit to $6,000 for one qualifying individual and $12,000 for two or more qualifying individuals. (KITV News)
- A new study found that states with higher percentages of income inequality have had higher rates of COVID-19-related deaths compared to other states. (Newswise)
- Nicholas Johnson, senior vice president for state fiscal policy at the Center on Budget and Policy Priorities (CBPP) outlined why targeted federal fiscal aid to states for cash assistance and social safety net programs, education, and housing would advance racial equity. (CBPP)
- Samantha Washington, a research assistant at CBPP, urged Congress to include additional funding for the Volunteer Income Tax Assistance program so volunteers can continue to provide tax assistance to low-income taxpayers. (CBPP)