Critical expansions to the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) will expire without action from Congress, making life harder for working families already struggling to make ends meet. More than 13 million families (nearly 25 million children) would see their taxes go up by an average of $1,073 annually.
As Congress and the president negotiate an end of year tax deal, they should say yes to the working families’ tax credits and no to the tax extenders. At a time of record corporate profits and record income inequality, making permanent the expansions to the EITC and CTC, rather than more tax breaks for big corporations, is just plain commonsense.
Scroll over your state below to see the impact of the EITC and CTC expansions.