Poverty Alleviation through Tax Credits

Thursday, February 4, 2016 | By

The Inclusive Economy blog outlined the poverty alleviation legislation that was quietly part of the December budget deal:

Besides the Affordable Care Act, no single piece of legislation has done more to reduce poverty in the last 20 years than December’s tax deal to strengthen the Earned Income Tax Credit (EITC), Child Tax Credit (CTC) and American Opportunity Tax Credit (AOTC).

Tax credits impact the lives of low-income working Americans by providing lump sum distribution that helps to increase savings and achieve asset goals.  More advocacy work continues to use tax credits to increase emergency savings (“rainy day savings”).

Great work by the advocates and legislators who worked hard to expand tax credits for the working poor!

Filed in: Uncategorized

Comments are closed.