Texas Economy Got $4 Billion Boost from the Earned Income Tax Credit

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Celia Cole /(512) 320-0222 x110

February 21, 2005

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Last year, more than two million Texas workers claimed over $4 billion in federal dollars for tax year 2003 through the federal Earned Income Tax Credit (EITC). The EITC not only boosts the earnings of low-wage workers and stimulates the Texas economy; it also provides an excellent opportunity for working families to save for the future. Although outreach and free income tax assistance have improved awareness of the program, the Texas economy and working families lost out on nearly $1.2 billion in unclaimed EITC payments last year.