News Round Up: May 1, 2023
Top Story: The Hawai’i House and Senate progressed House Bill 954, which would double the value of the state Earned Income Tax Credit (EITC) and more than double the state Child and Dependent Care Tax Credit (CDCTC). (Honolulu Civil Beat)
- United Way Connecticut released an op-ed that details how enacting a permanent, fully refundable state Child Tax Credit (CTC) would offset the cost of childcare and living expenses for Connecticut families. (Fairfield’s Hamlethub)
- The Michigan Senate approved a bill that would expedite tax refunds from the recently expanded state EITC. (Iosco County News-Herald)
- Minnesota’s House and Senate are debating the terms of the final bill in the legislative session. The House and Senate’s proposals both include expanding state CTC at different values, while the Senate plans to also include an expanded CDCTC. (MinnPost)
- Zero to Five Montana and the Center for Law and Social Policy published a joint op-ed that advocates providing parents with both a state-level CTC and comprehensive access to childcare to ensure families can afford basic needs. (Missoulian)
- New York City Mayor Eric Adams (D) announced the city’s $106.7 billion Fiscal Year 2024 Executive Budget, which will expand NYC’s tax preparation program to help more New Yorkers claim the state EITC. (The Official Website of the City of New York)
- New York lawmakers and Gov. Kathy Hochul (D) reached an agreement that will expand the state CTC to include children under four years old. The expanded tax credit is expected to be included in the state’s finalized budget agreement later this week. (Spectrum Local News)
- JAMA Network’s recent study examines whether state-level tax policy is connected to infant mortality in the United States. Researchers analyzed data from 1996 to 2019 and found that an increase in tax revenue and tax progressivity correlated to a decrease in infant mortality. (JAMA Network)
- The Food Research & Action Center released a comprehensive one-pager that underscores how federal tax credits improve food and economic security. (Food Research & Action Center)
- In a new report series, United for ALICE highlights national and state-level financial hardships in the United States and provides data on counties and municipals unable to afford basic needs. (United for ALICE)