While Republicans continue to propose tax cuts for the wealthy, Congressman Richard E. Neal introduced a bill which would extend the Child Tax Credit and the Earned Income Tax Credit, aimed at protecting working families and children.
"As we address the expiring tax provisions, it's critical that we not forget middle-income and working poor families," said Neal. "Even though the Republicans tell us that they're against raising taxes, what they really mean is they're against increasing taxes on the wealthy. The House and Senate Republican tax packages would raise taxes on millions of low and moderate-income families at the end of this year. I urge my House Republican friends to break with the Senate and extend the enhancements to the child tax credit and earned income tax credit from my bill when they bring the legislation to the House floor."
Republican proposals would let the expanded Child Tax Credit expire, which will increase taxes on 12 million families. 5 million families will no longer be eligible for the credit at all. An additional 35.3 million families will see their taxes increase by an average of $1,000 if the Child Tax Credit is allowed to lapse altogether.
Republican proposals would allow the expanded Earned Income Tax Credit to expire and will increase taxes on 6 million families with income below $50,000- meaning their taxes go up by an average of $500. Last year, according to the Internal Revenue Service, the Earned Income Tax Credit lifted 6.6 million Americans out of poverty. Half of them (3.3 million) were children.
According to the Citizens for Tax Justice, in Massachusetts, Neal's proposal would benefit 165,000 families and nearly 300,000 children. If Republican proposals succeed, these families and children will lose benefits.