December 16, 2015
December 16, 2015
Bipartisan agreement saves credits that will help 407,000 Ohio families make ends meet.
For immediate release
Contact: Kalitha Williams, 614-221-4505
A new bipartisan agreement in Congress saves provisions of two critical tax credits -- the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) -- which will help 407,000 Ohio families go to work and make ends meet.
The agreement was announced late Tuesday and ensures that expiring provisions of the EITC and CTC would be made permanent, along with certain tax breaks for businesses. Without this agreement, hundreds of thousands of Ohioans would have become poor or fall deeper into poverty when these key pieces of the EITC and CTC were set to expire in 2017.“By making these critical improvements to the EITC and CTC permanent, this deal ensures that working families will not get left behind as Congress completes its work this year,” said Kalitha Williams of Policy Matters Ohio. “It’s critical that Ohio’s Senate and Congressional delegation move quickly to pass this legislation before Congress heads home for the holidays.”
The EITC and CTC allow working families to keep more of what they earn to pay for essentials such as school supplies for their kids or car repairs to help them get to work. Each year, the credits help keep working families, including 162,000 children in Ohio, out of poverty. While Congress has taken the first step in reaching an agreement, the legislation will need to pass the House and the Senate and be signed by the president before it becomes law.
"This deal provides permanent tax relief to thousands of hard-working Ohio families -- almost four times the population of Toledo depend on these tax credits in our state," said Sandy Theis, executive director of ProgressOhio. "Thanks to the bipartisan efforts of both chambers of Congress, thousands of Ohio families will continue to be able to meet their basic needs. We encourage Ohio's congressional delegation to continue this important work by voting to support the legislation."
Lisa Hamler-Fugitt, executive director of the Ohio Association of Foodbanks, said the deal represents a win for low-income, working families.
“We can’t thank Congress enough for recognizing that these tax credits boost work while fighting poverty, helping everyday families meet their basic needs and achieve greater self-sufficiency," she said. "We help tens of thousands of Ohioans file their taxes for free each year, and we know how far these credits go in helping families work toward a more financially stable future.”
Renuka Mayadev, executive director of Children’s Defense Fund-Ohio, said, “By making tax credits that support the efforts of hard-working Ohio families permanent, our Congress is protecting the critical needs of our most vulnerable citizens - our children — this holiday season.”
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