Charlottesville, Virginia, July 16, 2020 (GLOBE NEWSWIRE) -- A Diverse Group of Conservatives Call for Emergency Expansion of EITC and Child Tax Credits for Families
Date: July 16, 2020
Contact: michael@ifstudies.org
(Charlottesville, VA)—A diverse group of conservative scholars and leaders have signed a letter asking Congressional leaders to expand the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC) because of the economic and family consequences of COVID-19. The letter, which can be viewed on the IFS website, was signed by IFS senior fellow W. Bradford Wilcox, author J.D. Vance, American Enterprise Institute scholars Yuval Levin and Michael Strain, economist Abby McClosky, and Princeton's Robert George, among others.
"In the face of school closures, intermittent reopening, and rampant community spread, now is not the time for pulling back," said Abby McClosky. "Workers and caregivers are facing unprecedented challenges from the COVID-19 pandemic, which shows no signs of abating. Targeted support is urgently needed to reward work and help families with caregiving responsibilities."
The letter asks that Congress issue:
- a second EITC in the fall that is based on 2019 earnings and that it include a higher threshold for married workers for this payment to avoid a marriage penalty;
- an additional, fully-refundable CTC of $2,000 to all American families, and—should this credit be means tested—that the income threshold be set to minimize any marriage penalty in the credit.
"Millions of ordinary families are hurting because of the financial fallout of COVID," said Brad Wilcox, IFS senior fellow and professor of sociology at the University of Virginia. "As we head into the fall, Congress needs to step up to shore up families struggling to care for their children and pay the bills."
Read the full letter and list of signatories here.