News Round Up: March 27, 2023
Top Story: Recently, the Vermont Senate Finance Committee was presented with a new proposal to repeal the state’s new Child Tax Credit and redirect the funds to child care. The Public Assets Institute argued in a written testimony that working families, who benefit the most from the tax credit, would be negatively impacted by the repeal. (VTDigger)
- Public Assets Institute released a new brief that details and highlights the importance of Vermont’s CTC. (Public Assets Institute)
- Utah Spencer Cox (R) recently included an expansion of the state Earned Income Tax Credit (EITC) in a $400 million tax cut. The expansion will increase the value of the tax credit from 15% to 20% of the federal rate. (KSL)
- Delaware House Bill 89 was recently introduced in the House of Representatives, which would increase the refundable state EITC’s value to 7.5% of the federal rate for Tax Year 2023. (Office of Governor John Carney)
- The Colorado Department of Public Health and Environment (CDPHE) launched a campaign to remind eligible Coloradans to claim state tax credits and to use free tax support services. (KRDO)
- The Institute on Taxation and Economic Policy (ITEP) discusses how the nation’s tax code has historically impacted minority communities, predominantly Black and Hispanic people, by highlighting various reports and research from the last three decades. ITEP also explains how this knowledge can inform present race-conscious tax policies. (Institute on Taxation and Economic Policy)