Tax Extenders Legislation to Include Brown's Proposal to Permanently Extend and Expand Needed Anti-Poverty Tax Credits for Working Families
Press Release
As the Senate and House consider tax extenders legislation, U.S. Sen. Sherrod Brown today announced that the package will include his proposal to permanently extend expansions of the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC) -- two of the most important anti-poverty credits for working families.
"Many Americans work hard but struggle each day just to provide for themselves and their family. Without a doubt, there is no greater boost for these families than the Earned Income Tax Credit and the Child Tax Credit," said Brown. "Together, these credits are a lifeline for working families, lifting millions out of poverty, providing an incentive to work, and putting more of the money they've earned in their pockets. By permanently extending these programs we can help those most in need and protect this benefit for the millions of hardworking tax payers nationwide."
Brown has been the Senate's lead advocate for the EITC and CTC, and has pushed to prevent making certain business tax provisions permanent without also making EITC and CTC permanent. In March, Brown introduced the Working Families Tax Relief Act, which would extend and expand the Earned Income Tax Credit and the Child Tax Credit.
Without an extension of the EITC and CTC by 2017, approximately 50 million Americans would lose all or part of their EITC or CTC. The Brown-Durbin bill has attracted 44 cosponsors including Senate Finance Committee Ranking Member Ron Wyden (D-OR) and eight other members of the Finance Committee, plus six members of Democratic Leadership, including Minority Leader Harry Reid (D-NV).
The EITC is a refundable tax credit for low-income Americans that encourages work and helps families make ends meet. In 2012, more than 24 million taxpayers received a lump sum refundable credit through EITC after filing their taxes. The CTC is available for taxpayers with children in the amount of up to $1,000 per child under age 17. Without an extension of the EITC and CTC by 2017, over 13 million families would lose all or part of their EITC or CTC and 16.4 million people would be pushed into poverty or deeper into poverty.
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