STATEMENT OF Kristin Rowe-Finkbeiner, Executive Director and CEO, MomsRising on Passage of the Tax Package that Will Extend the Earned Income Tax Credit and the Child Tax Credit
December 18, 2015
“Congress’ Action Will Prevent Millions of Moms and Children from Being Taxed into Poverty and Boost Our Economy.”
“The bi-partisan tax package passed by the U.S. Congress that includes a permanent fix to key provisions of the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC) that otherwise would have expired without congressional action will boost our economy and help keep millions of families afloat—including the 21 million moms who access the tax credits. Among them are one in four of all military and veteran families, who receive both of these credits and need that money to help make ends meet, keeping food on the table and paying utility bills, among other things.
“At MomsRising, we have heard from tens of thousands of moms and dads who rely on these tax credits to keep their households going and help their children succeed. More than 43,000 of them signed our letter to Congress urging members to preserve EITC and CTC. We also collected hundreds of stories about how these tax credits boost their families, and held district meetings at which local moms talked to members of Congress and their staffs about how important these credits are.
“This policy works. It lifts our families and our economy. More than nine million Americans, including five million children have been lifted out of poverty by the EITC and the CTC.
“These tax credits are a lifeline and not only do they help families, they help local, state and the national economy. With enough income, families are able to buy the things they need – food, clothing and household items – and support businesses. Congress’ action today will prevent millions of moms and children from being taxed into poverty and will help boost our economy as a whole.
“Congress could have done more, however, by ensuring that immigrant families are fully able to benefit from these important credits. As taxpayers and contributors to our economy, immigrant families and their children deserve the same consideration and opportunity afforded other low- and moderate-income families.
We plan to work with Congress in the future to guarantee that immigrant families have equal access to working family tax credits like the EITC and Child Tax Credit.”