Many States Have Created or Expanded Tax Credits to Help Families Get By

Several states have created or improved tax credits this year — particularly state earned income tax credits (EITCs) and state child tax credits (CTCs) — to support families struggling to afford the basics as costs rise amid the pandemic. Since families with high incomes pay a smaller share of their income in taxes than those with lower incomes, the EITC and CTC make the tax code fairer, bolster equity, and improve families’ economic security now and in the future. Tax credits for families with low incomes help them to afford housing, food, utilities, and more. Research indicates that additional income…

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