2023 U.S. Poverty Laser Talks
The Child Tax Credit should support working class families
Engage: Since 1997, the Child Tax Credit (CTC) has offered millions of hardworking families the tools to provide safety and stability for their children.
Problem: Under current law, 19 million children live in homes that do not receive the full benefit of the CTC. Seventeen million of these children have parents with jobs, and they disproportionately come from rural areas. Because the current tax code calculates each family’s CTC using the “income phase-in” formula, there is no Child Tax Credit provided at all to families earning under $2,500 per year, while families making as much as $400,000 receive the full credit. This shows how out of touch the current CTC is with families earning lower wages.
Inform: When the CTC is paid monthly and reaches more families, especially those earning the lowest incomes, it helps provide economic stability. It puts money back into their hands so they can decide how to best use it to support themselves whether it is for monthly bills, their child’s education, or emergency savings.
Call to Action: Will you speak to your colleagues on the Ways and Means Committee or Senate Finance Committee about expanding the CTC so that more working families with low incomes receive the full benefit? How can we follow up with you?
Note: See the Child Tax Credit Congressional Leave-Behind for more information you can reference when creating your EPIC laser talk.
Renters Need Tax Relief Too. Any Tax Reform Must Prioritize Them.
Engage: The tax code provides billions in tax subsidies to homeowners, developers, businesses, and landlords, but almost nothing for the nearly 44 million Americans who rent.
Problem: Even employed households are having trouble keeping up with skyrocketing rents.
Inform: A renter tax credit would help. The credit would be targeted to rent-burdened, low-income renters and paid out on a monthly basis, essentially capping out-of-pocket rent and utilities expenses. This would allow low-income renters to afford a safe place to live without sacrificing other basic needs. It would broadly benefit households that existing housing and homelessness programs modestly funded by Congress are unable to serve. And it would prevent people from evictions and experiencing homelessness by providing them with financial stability against high housing costs. [share how a monthly renter tax credit would help you]
Call to Action: Will you support using the tax code to target relief to renters via a renter tax credit? Are you open to looking at specific policies that would use the tax code in this way? What’s the best way to follow up with you on this?