Senator Brown unveils legislation to cut taxes for Ohio workers & families
WASHINGTON, D.C. — Ahead of tax day Monday, U.S. Sen. Sherrod Brown, D-Ohio, last week introduced the Working Families Tax Relief Act. Brown’s tax cuts would benefit 4 million Ohioans, including 1.7 million children in the state.
At a time when wages are stagnant and the cost of child care has exploded, the Working Families Tax Relief Act would cut taxes for workers and families by expanding the Earned Income Tax Credit and Child Tax Credit.
EITC and CTC are two of the most effective tools we have to put money in the pockets of working people and pull children out of poverty. Expanding them will give millions more Americans a foothold in the middle class, according to a news release from Brown’s office.
The bill also allows workers to draw a $500 advance payment on their EITC so that families aren’t forced to turn to predatory payday lenders when the car breaks down or other unexpected expenses come up.
Payday loans are generally made to individuals who are working and often eligible for the EITC. The average payday loan is about $375.
The Working Families Tax Relief Act would cut taxes for workers and families left behind by the President’s tax law.
“All across the country, families are working harder than ever but have less and less to show for it.
Corporate profits have soared, executive compensation has exploded, but wages are flat. Meanwhile the cost of everything from health care to education and housing is up,” said Brown. “Our bill would help put more money back in the pockets of working families and set children up for future success.”
Brown used Te’Jal Cartwright of Dayton as an example of someone who will benefit from his proposal. Her family relies on the EITC and the CTC to make ends meet. Cartwright talked about the importance of Brown’s bill for working families.
“At the end of the day, kids are our future. It’s so important that we invest in our nation’s youngest learners, and we can’t do that without supporting the families that are raising them. Creating tax policies that support working families — instead of giving more tax breaks to billionaires and corporations — is a huge priority for my family and countless others in Ohio. I thank Senator Brown for introducing this impactful legislation and hope Congress will make it a high priority, too, and pass the Working Families Tax Relief Act as soon as possible. I know how much it would help my family,” she said.
The Working Families Tax Relief Act would:
∫ Boost the incomes of 46 million households and 114 million people, including 43 million children.
∫ Lift 7 million people out of poverty, including 3 million children.
∫ Expand the EITC for families with children by roughly 25 percent.
∫ Allow workers to draw a $500 advance payment on their EITC so that families aren’t forced to turn to predatory payday lenders when the car breaks down or other unexpected expenses come up. The average payday loan is about $375.
∫ Significantly expand the EITC for workers without children and make the credit available for people starting at age 19 up to age 67.
Currently, workers without children can be pulled under the poverty line by taxes. Expanding the EITC would fix that.
∫ Make the CTC fully refundable, so the more than 26 million children who were left out of the Trump tax law get the support they deserve.
∫ Create a Young Child Tax Credit to provide extra support to children five and under, when research says they need it most.
Brown said Thursday that since proposing the bill more than 80 national organizations have endorsed it.
Read more about the bill at www.brown.senate.gov/download/working-families-tax-relief-act>.