,A Majority of States with Income Taxes Have Enacted State Earned Income Tax Credits

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A Majority of States with Income Taxes Have Enacted State Earned Income Tax Credits

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Publication Date: October 2007

Publisher: Center on Budget and Policy Priorities (Washington, D.C.)

Author(s): Jason Levitis; Jeremy Koulish

Research Area: Banking and finance; Labor

Keywords: Economic projections; State budgets; Tax code; Income diversity

Type: Report

Abstract:

An Earned Income Tax Credit is a tax reduction and a wage supplement for low- and moderate-income working families.  The federal government administers an EITC through the income tax.  So do many states.  States that enact EITCs can reduce child poverty, cut taxes, and increase the incentive to work for families struggling to make ends meet.