Home >> Research >> Economic Opportunity>> Asset Building

More Information

Related Topics

• Testimony: Senate Committee on Business and Commerce
• Testimony: Pensions, Investments, and Financial Services
• Savings Soars: OpportunityTexas’ Tax-Time Savings Project Triples Impact from Last Year

Also by Lynsey Kluever

• National Report: Conditions Improving for Texas Teens
• Newly Passed Farm Bill will Help 890,000 More Texans
• New Report: Lack of Child Abuse & Neglect Prevention Costs the U.S. Over $100 Billion a Year

Texas Left Nearly $1.2 Billion in Tax Credits on the Table Last Year: Now’s the Time for Low-Income Families to Claim EITC

  

Author:
Lynsey Kluever /(512) 320-0222 x 112

February 7, 2006

Read Full Article >>  

In Texas, approximately $1.2 billon dollars of tax credits went unclaimed last year in the form of the Earned Income Tax Credit (EITC). EITC is one of the nation’s most successful anti-poverty programs, helping low-income workers and families earning up to $38,000 receive a rebate of federal income taxes. In 2003, EITC lifted 440,000 Texans, including 240,000 children, out of poverty while pumping billions of dollars into the economy.