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Obama urges doubling tax credit for low-income childless workers
Source:
reuters.com
- Feb 13, 2016
Feb 9 U.S. President Barack Obama on Tuesday proposed expanding the earned income tax credit (EITC), which helps low-income taxpayers, to give a bigger boost to childless people.
Some Republicans as well as Democrats in Congress back increasing the tax credit. House of Representatives Speaker Paul Ryan, a Republican, favors expanding the credit as an incentive for pulling people into work.
In his budget blueprint for the fiscal year starting Oct. 1, Obama proposed doubling the tax credit for workers who are not raising children, bringing the credit to a maximum of about $1,022 a year for them.
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Category: IRS
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