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YOU can submit written testimony on Monday to the Finance, Revenue, and Bonding Committee to applaud the proposed increase to the CT EITC (up to 40% of the federal credit) and to make the case that we also need a permanent, refundable CT CTC ($600/child for up to 3 children).
The CT EITC and CTC are both necessary. The EITC is a power-house policy that is proven to reduce poverty for eligible working households. But the EITC eligibility squeezes out two groups -- families with very low or no work income and families who earn more than $60,000 annually but who are still living paycheck-to-paycheck. That is more than 341,000 Connecticut households who will not get help to afford life's necessities because they either earn too little or too much income.
With nearly 40% of Connecticut households being ALICE -- an acronym for Asset Limited, Income Constrained, Employed -- more than 550,000 families are not making enough to get by or they are falling behind.
The EITC + CTC formula helps all ALICE families with children and other groups, like people whose tax filing status prevents them from accessing federal credits, get critical relief from the rising costs of the essentials for work and life.
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