Earned Income Tax Credit a Tool ‘To Fight Against Poverty'
The Dominion Post - A coalition of interest groups pushing for the Legislature to adopt a state Earned Income Tax Credit (EITC) explained why they think the credit is a good thing and announced a website that lets people explore the projected local impact of a credit on Tuesday, Nov. 16. Read
"The Earned Income Tax Credit is known on both sides of the aisle as one of the credits' tools against the fight against poverty in America," Seth DiStefano, spokesman for the Invest in Working Families Coalition, said.
Statewide, he said, an EITC could bring an average $332 extra per month to 141,176 low-income working families with 162,961 children.
Because the credit money, which appears in their tax refunds, typically gets spent, it would add $46.9 million to the state economy, he said. The families would have extra to spend on clothes, food, school supplies and car repairs.