In politics, as in life, priorities matter. The 2017 tax law, which heavily favored large corporations and the wealthy, is a perfect example of putting the wrong things first.
But the new Working Families Tax Relief Act does it right. It would significantly boost income for working families by expanding the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC), and give families an additional tax credit for raising young children.
That’s more money for basic necessities, home repairs, maintaining a car to get to work, and in some cases, education to get a higher-paying job. This bill would benefit 44 million families and lift 11 million children above the poverty line.
Priorities matter. It’s time we fixed our tax laws to give working people and children a fair shot to get ahead. Congress should make expanding the EITC and CTC a priority in any upcoming tax legislation.