EITC Would Put More Money Into the Economy
Beckley Register-Herald - As West Virginia continues to battle a combination of economic woes — decline of the coal industry, low natural gas prices, low workforce participation and low education rates — that have taken a toll on the state's budget, the West Virginia Center on Budget and Policy is pushing for an Earned Income Tax Credit. Read
The CPB's report on the EITC says the credit can produce not only more disposable income in the state, but also healthier babies, better educational outcomes and increased earnings.
Seth DiStefano, the state EITC campaign coordinator, said that's because with more money in working families' pockets, they'll seek health care for their children and more education.
DiStefano said the WVCPB is working for 15 percent, which will cost the state $50 million.
With state leaders cutting the general revenue budget to the bone while trying to avoid any tax increases, the amount appears staggering. But DiStefano said he's working on loopholes that would make up for the loss.