ANALYSIS EXPLORES IMPACT, COST OF SENATE EITC PLAN
The Senate is expected Thursday to consider an expansion of the earned income tax credit that would have increased the maximum family credit by $313 had it been in effect this year,, according to budget analysts.
The economic development bill (S 2423) redrafted by the Senate Ways and Means Committee calls for a 5 percentage-point increase in the EITC that would expand the credit from 23 percent to 28 percent of the federal credit, benefiting 415,000 families by about $300 in taxes per year according to the committee.
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