Dear EITC Funders Network, |
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This fall, the EITC Funders Network is continuing to work closely with our members and partners to lift up the great work being done around the country, share lessons and set tables to collectively develop field-wide strategies aimed at increasing the number of eligible low and moderate income individuals and families who claim the CTC, EITC and other tax credits. We will be sharing more about this later this year and early next year.
We were thrilled to host our first in-person session for the network since 2019 at the Prosperity Summit in September. At this session, we provided an opportunity to learn from national and local leaders about the connections between equity and tax policy and innovations of the past year and to talk with funder colleagues about emerging strategies. It was great to connect in-person with members of the network.
The EITC Funders Network and Prosperity Now's Tax Opportunity Network is now hosting a series of conversations with field partners and funders to generate a range of ideas focused on innovations that help low- and moderate-income people access all available credits, reduce hurdles to getting their taxes completed and expand capacity of free and non-predatory tax services. These ideas will be brought together in a series of short innovation briefs at the beginning of next year.
As Fall is underway, we are reminded that our next tax season is right around the corner. We encourage you to begin planning for tax season with your grantees and partners, if you haven't already begun to do so. In this issue of the newsletter, we are sharing news, reports, events & resources.
Please keep an eye on your email for opportunities to connect, share, learn and plan with members of this network and our partners. Thank you all for your continued commitment to expanding access to tax credits across the country and for your membership in the EITC Funders Network.
Sincerely,
Ami & Deneisha
EITC Funders Network
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HAVE YOU COME ACROSS ANY AWESOME RESOURCES?
Please share them with us using the form on the bottom of our resources page.
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Interview with a Field Leader |
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Espacios Abiertos is an independent, non-partisan, non-profit organization that seeks to create and strengthen mechanisms for civic participation so that people in Puerto Rico can directly and effectively influence the island’s social, political, and economic processes. Their work is grounded in the belief that an open, transparent and more democratic society will make for a more just and equitable Puerto Rico.
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Our friends at Espacios Abiertos are recovering from the devastating impact of Hurricane Fiona on the island. An updated version of this newsletter will be shared when the interview is ready. Please continue to support our brothers and sisters in Puerto Rico as they work to rebuild, repair and restore. |
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BLOG POST- Many States Are Creating or Expanding Tax Credits to Help Families Afford the Basics. "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."
BLOG POST- Added IRS Funding Would Help Ensure High-Income Households, Businesses Pay Their Taxes. "The Inflation Reduction Act provides roughly $80 billion over ten years for the IRS to rebuild and train its staff and make long-term investments in its computer systems, which are woefully out of date. The added funding is necessary to fill the large budget hole from a decade of cuts and enable the IRS to fulfill its core responsibilities of helping taxpayers navigate the tax system and enforcing the nation’s tax laws." Read the it here.
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REPORT- National and State-by-State Estimates of Two Approaches to Expanding the Child Tax Credit- ITEP has released a report that compares the ARPA and Romney Child Tax Credit plans. It argues, "The Romney Child Tax Credit plan would leave a quarter of children worse off compared to current law and help half as many low-income children as the 2021 expansion of the credit.he Romney Child Tax Credit plan would leave a quarter of children worse off compared to current law and help half as many low-income children as the 2021 expansion of the credit." Read the full report here.
BLOG POST- A post on ITEPS JustTaxes Blog authored by Joe Hughes and Jon Whiten discusses "Four Tax Policy Wins in the Inflation Reduction Act and Four More That Can Build on This Progress" Read it here.
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RESOURCES- Boosting Transition-Age Foster Youth Income Through Tax Filing- JBAY has been working with their partners to increase the income of young people in the foster care system. They have shared a webinar, released a paper and developed a Fact Sheet to share their learnings and recommendations.
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FACT SHEET- Nearly two in five Black, non-Hispanic women and Latinas claimed the Child Tax Credit on their 2021 federal tax returns- "Women who claimed the Child Tax Credit on their 2021 federal tax return, received a refund, and spent most of the credit used it to cover necessary purchases."
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ARTICLE & ANALYSIS- A Sharp Decline in Child Poverty- “With little public notice and accelerating speed, child poverty fell by 59 percent from 1993 to 2019, according to a comprehensive new analysis that shows the critical role of increased government aid."
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NEW RESEARCH- The Impact of Cash on Infants “Although a growing number of causal studies have linked income increases to improvements in children’s health, behavior, and school success, this is one of the first to investigate the effect of family income increases in the first year of life,” says Greg J. Duncan, an economist and Distinguished Professor in the School of Education at the University of California, Irvine.
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ARTICLE & ONE-PAGER- Expanded IRS Free-File System One Step Closer...
For many years, advocates have been pushing to simplify the tax filing system. Democrats have introduced a bill that is aimed at doing just that. The Tax Filing Simplification Act of 2022 has been introduced by several Democratic senators. Read the article and one-pager linked below to learn more.
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Culture Wars, Political Polarization and the 2022 Elections: Implications for Building an Economy that Works for All
November 30th - December 1st in Washington, DC
This November, all 435 seats in the House of Representatives, 35 of the 100 seats in the Senate, and 36 governorships are up for election.
The results of this year’s elections will determine control of Congress and set the stage for the second half of President Biden’s term of office. Races at the state and local level will also have significant impacts on the concentration of political power across the states and new laws targeting abortion, guns, voting rights, and election infrastructure. Understanding what issues and narratives drove voters and assessing the new policy and funding environment will be critical as we build compelling and successful agendas to advance racial and economic equity and an inclusive democracy.
Join us for a post-election briefing for funders with interactive sessions on:
- What issues and narratives motivated voters;
- How election outcomes will impact opportunities and challenges facing families, workers, and communities across the nation; and
- What the results mean for our work as funders in the short and long-term.
Registration is Now Open!
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About the EITC Funders Network
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The EITC Funders Network brings together funders interested in the Earned Income Tax Credit, free- and low-cost tax preparation, and asset building. The Network seeks to increase awareness of EITC-related projects, foster collaboration, share information about the current status of EITC-related work, and help shape the future of the field.
The EITC Funders Network is generously funded by:
Annie E. Casey Foundation
Charles and Lynn Schusterman Family Philanthropies
Gates Foundation
Rockefeller Foundation
W.K. Kellogg Foundation
Anonymous
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