By the Center for American Progress’ Joy Moses
Attached to Congress’ approval of the bailout package is a brief two sentence provision that will bring welcome relief to the families of over 13 million low-income children. The provision expands the reach of the Child Tax Credit, which will help families cope with the growing financial challenges associated with the current economy.
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In light of the substantial (and rising) costs of child care in the United States, the National Women’s Law Center released an analysis of the child care policies enacted by various states. While some advances have been made in the last year or so, NWLC found that over the last decade, most states made no progress, and in many cases, have actually moved backward in dealing with this problem.
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Lisa Donner, the Executive Director of Half in Ten, contributes to Politico’s “Dear 44: Ideas for the Next President” series:
What should the 44th president do about poverty in our great nation? He should make cutting poverty a clear goal of his administration and prioritize a set of initiatives that will make the most significant contributions to meeting it. We can — and should — cut poverty in half in the next 10 years.
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Victory for Low Income Children! Sen. Baucus Supports Expanded CTC!
In order to start cutting poverty in half, one of Half in Ten’s first priorities is to expand the Child Tax Credit to help millions of poor children in America. Current law denies the CTC to millions of poor children and their families simply because they earn too little to owe federal income tax. The House has approved H.R. 6049, expanding the CTC, and now it’s time for the Senate to do the same and help millions of children.
By the Leadership Conference on Civil Rights’ Alexander Botting
With high gas prices and a faltering economy, low-wage American workers are finding it increasingly difficult to meet their every day needs. On July 31, the House Committee on Education and Labor held a hearing to discuss the growing income gap between the American middle class and top income earners, and hear experts’ views on proposed policy solutions.
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By the Center for American Progress’ David Madland
The job numbers released today by the Department of Labor provide further evidence that that the economy is not working for most Americans, with new indications that the labor market is likely to remain weak for some time. In July, the economy lost another 51,000 jobs, and unemployment increased to 5.7 percent from 5.5 percent, its highest level since March of 2004. Job losses were widespread, declining in construction, manufacturing and several service industries.
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From the Center for American Progress:
The Senate is currently considering legislation (S. 3355/H.R. 6049) that would expand the Child Tax Credit to provide assistance to a greater number of low-income families, helping them to cope with the growing financial challenges associated with the current economy.
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From the Center for American Progress
How Does the Child Tax Credit Work?
The Child Tax Credit provides tax-based assistance to families with children. Families can claim up to $1,000 for each child, reducing the amount they owe in taxes, and under certain circumstances, increasing the amount of their yearly tax refund. The CTC provides families with additional funds that can help them cope with the rising costs of maintaining a household and raising children. Yet due to the way the credit is structured, low-income families are more likely than middle-income families to be denied the full benefits of the credit.
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By the Leadership Conference on Civil Rights’ Jon Jackson
The federal minimum wage rose to $6.55 on July 24, giving more than 2 million workers a few more dollars in their paychecks.
The wage increase is the second part of the three-phase Fair Minimum Wage Act of 2007. The final increase will be next year, when the minimum wage goes up again to $7.25 an hour.
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Over 1,100 faith groups, labor groups, service providers, and advocacy groups are urging Congress to take needed action and expand the Child Tax Credit. Currently, the Child Tax Credit is denied to millions of American children because they are too poor. Reducing the minimum earnings requirement from $12,050 per year to $8,500 per year will make almost 3 million more children eligible for the credit, and increase the amount of the credit for over 10 million more.
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