Maine’s working families set to score an important win in the tax package scheduled for vote in the House and Senate

December 16, 2015 by

More than 37,000 hardworking Maine families will keep a key income boost that helps them go to work and pay for basic necessities under a new bipartisan agreement in Congress that saves critically important provisions of the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC).

EITC-CTC 12-16-2015

The agreement announced late Tuesday night makes permanent provisions of the EITC and CTC currently scheduled to expire in 2017.  Without this agreement an estimated 64,000 children in these 37,000 Maine families will lose some or all of their working-family tax credits. And 16,000 of these children will descend into– or deeper into – poverty. More than 26,000 rural Maine families and 12,000 veteran and military families also count on EITC and CTC benefits to make ends meet.

The EITC and CTC reward work by allowing working families to keep more of what they earn to pay for essentials like school supplies for their kids or car repairs to help them get to work. While Congress has taken the first step in reaching an agreement, the legislation will need to pass both houses and be signed by President Obama before it becomes law. The House of Representatives is expected to vote on Thursday and the Senate soon after.

 

One Response to “Maine’s working families set to score an important win in the tax package scheduled for vote in the House and Senate”
  1. […] Last year, a bipartisan agreement made permanent key improvements to the federal EITC and the child tax credit, ensuring a better life for 64,000 children in 37,000 Maine families. But lawmakers left out an EITC fix for childless adults. We urge federal lawmakers to move forward this year with a solution that will reduce poverty and reward work for tens of thousands of Mainers. […]

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