ECONOMIC OPPORTUNITY: ASSET BUILDING


Many Texans are poor, not because they don't work, but because their work pays too little to raise a family out of poverty. To ensure economic prosperity, Texas public policy must support work, make work pay, and help families build their assets. The most important thing the state can do to enhance economic opportunity is to invest in public education—from early childhood education all the way through higher education.

Recent Asset Building Publications

Testimony: Senate Committee on Business and Commerce (10/12/2012)

The center delivered written testimony to the Senate Committee on Business and Commerce on Oct. 9. on limiting the payday loan and auto title loan fee amount and how many times the fee can be charged.

Testimony: Pensions, Investments, and Financial Services (09/12/2012)

The center testified before the House Committee on Pensions, Investments, and Financial Services on payday and auto title lending. Speaking on behalf of the Texas Fair Lending Alliance, the center expressed concern over the affordability of payday and auto title loans in Texas.

Savings Soars: OpportunityTexas’ Tax-Time Savings Project Triples Impact from Last Year (08/20/2012)

The OpportunityTexas Tax-Time Savings Project (TSP) " a partnership with the United Ways of Texas and Foundation Communities " aims to increase household savings and reduce asset poverty. TSP provides modest incentives to clients who get their taxes prepared at Volunteer Income Assistance (VITA) sites to encourage them to save a portion of their tax refunds by purchasing at least one U.S. Savings Bond. As a result of our partnerships promoting savings at tax time, the number of VITA savers has soared. The numbers of savers tripled and the amount saved quadrupled from last year.

Testimony: Dodd-Frank Wall Street Reform and Consumer Protection Act (04/3/2012)

On Tuesday, April 3, OpportunityTexas Project Coordinator Laura Rosen presented testimony before the House Committee on Pensions, Investments & Financial Services about the positive developments for consumers resulting from the passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Texas Saves Week: Saving Up (02/22/2012)

This week Texas is one of many states celebrating America Saves Week, a campaign to promote personal savings and encourage individuals to take responsibility for their finances. America Saves works with state and local partners to raise awareness about the importance of saving and helps low- and moderate income individuals open savings accounts. Having savings is key for low-income families to move up to the middle class.

One in Two Texans Has Almost No “Rainy Day” Savings to Bank On (01/31/2012)

In Texas today, 27.7 percent of households are “asset poor,” meaning they have little or no financial cushion to rely on if unemployment or another emergency leads to a loss of income, according to a report from the national nonprofit Corporation for Enterprise Development (CFED). Excluding important assets such as a vehicle or home, the (liquid) asset poverty rate increases to 50.6 percent of Texas residents.

OpportunityTexas: Building a Strong Middle Class (11/2/2011)

Senior Policy Analyst Don Baylor and OpportunityTexas Project Coordinator Laura Rosen gave this presentation about OpportunityTexas at the RAISE Texas Summit at the Federal Reserve Bank of Dallas on November 2, 2011.

Building a Strong Middle Class: the Role of College Savings Accounts (11/1/2011)

Senior Policy Analyst Don Baylor gave this presentation, "Building a Strong Middle Class: the Role of College Savings Accounts," on the State Platforms for College Savings Accounts panel at the College Savings Forum at the Federal Reserve Bank of Dallas on November 1, 2011.

CPPP Applauds Bipartisan Effort to Reform Payday and Auto Title Lending (04/21/2011)

Over the past several years, unregulated and high-cost, short-term lending has taken a toll on Texas consumers and communities. Without state oversight, Texas consumers do not have basic protections against abusive lending practices or a way to escape the cycle of debt which traps Texans with unlimited fees. The 82nd Legislature has a unique opportunity to address these problems by enacting House Bill (HB) 2592, 2593, and 2594.

Texas Tuition Promise Fund: Using College Savings To Increase College Success (06/28/2010)

The old saying, “You have to learn to earn,” underscores the importance of investing in higher education. Yet rising tuition, limited financial aid, and a lack of savings keeps college out of reach, and out of mind, for many Texas families, especially low-income families.

Although the Legislature created the Texas Tuition Promise Fund explicitly to reach low-income students, an analysis of the plan’s first two years demonstrates that students who most need college savings accounts largely remain untouched.

To close the gaps, the state must align its college savings plans and master plan for higher education to seamlessly provide incentives for economically disadvantaged students to begin college savings.

It's Getting Hot in Here (08/3/2009)

Texas Weatherization Assistance Program Provides Relief to Low-Income Families and Creates Jobs for the New Economy

Through the American Recovery and Reinvestment Act (ARRA), Texas will receive $327 million in additional Weatherization Assistance Program (WAP) funds through 2011. The new funds will increase the number of homes weatherized in Texas to between 30,000 and 35,000 homes, up from 4,173 in 2006. Weatherization helps low-income communities by making their homes more energy efficient, thereby reducing the cost of utilities and homes from extreme weather conditions. Weatherization also enhances the value of a family’s primary asset " their home. This policy page provides background on the Texas WAP and explores how ARRA funds can prepare more Texans for jobs of the future, meet consumer demands, and improve the quality of life for low-income seniors, persons with disabilities, and families with children.

CPPP Comments on Texas Tuition Promise Fund Rules (07/21/2008)
Senior Policy Analyst Don Baylor provided comments on the rules of the Prepaid Higher Education Tuition Board's Texas Tuition Promise Fund. Recommendations include increasing participation by creating “provisional” accounts between open enrollment periods and driving contributions to the Save & Match fund by harnessing the tax-deductibility of donations to a nonprofit foundation.

Income Inequality on the Rise in Texas (04/9/2008)
The gap between the richest and poorest families, and between the richest and middle-income families grew substantially in Texas over the past two decades, according to a new study by the national Center on Budget and Policy Priorities and the Economic Policy Institute. Growing income inequality tears at the fabric of our economy, and shows our public policies are failing to promote shared prosperity. In fact, inequality has accelerated since the late 1990s as incomes have fallen for poor families and virtually stagnated for middle-income families in Texas. (The full report can be found at http://www.cbpp.org/4-9-08sfp.htm.)

College Savings Accounts 101 (04/9/2008)
An educated and skilled workforce is critical to Texas’ economic vitality and competitiveness. 529 College Savings Plans offer important tools for increasing educational levels by improving K-12 student achievement, minimizing dropouts, supporting our lagging financial aid system, and reducing dependence on expensive student loans. Increasing participation in these college savings plans should be a vital component of statewide efforts to increase college enrollment and completion. This policy page introduces college savings plans, how they operate, and why a matched savings policy can move Texas forward.

Payday Lending--Hurting Texas Families (02/22/2008)
It’s the American Dream that if you work hard you get ahead. But with the high cost of living these days, that isn’t always the case. Sometimes families run short of cash and turn to payday loans"short-term loans that give Texans a cash advance on their paychecks, Social Security payments, or veteran’s benefits. Millions of families use these loans when they are short of cash, but the high cost outweighs the convenience. Interest rates start at 400 percent APR and can surpass 1,000 percent, and it is typical for a worker to pay $180 in interest on a 10-day, $700 loan. More often than not, the individual is unable to repay the full amount within the short repayment period, and the debt balloons. In fact, most payday lending volume comes from individuals forced by the cost of the original loan to take out another and another. We’ve seen the devastating impact of subprime lending on the economy. But what do payday loans cost families and communities in Texas?

Come and Claim It: Texas Economy & Families to Benefit From $5 Billion EITC Stimulus (01/31/2008)
Today, Governor Rick Perry issued a proclamation designating January 31st as Earned Income Tax Credit (EITC) Awareness Day in Texas. To read the proclamation, see http://www.uwtexas.org/data/docs/EITC_Procalamation.pdf. The EITC is a refundable federal tax credit for eligible households with earned income no more than $39,783. For the 2008 filing season, the maximum refund is $4,716. As the nation’s most successful anti-poverty program, the EITC enables working families to address basic needs while also providing a platform for financial stability and success. Families can apply online for the EITC at http://www.irs.gov/efile/article/0,,id=118986,00.html or by visiting a local Volunteer Income Tax Assistance (VITA) site. To find a VITA location nearest you, see http://www.uwtexas.org/data/docs/Texas_Tax_Preparation_Sites.pdf.

Community Volunteer Income Tax Assistance Centers Get a Federal Boost; CPPP Develops Local Materials (01/11/2008)
The recently enacted 2008 federal budget bill includes a boost for community tax centers that help working families file tax returns for little to no cost. The bill authorizes an $8 million matching grant demonstration program for Community Volunteer Income Tax Assistance (VITA) programs through the end of Federal Fiscal Year 2009 (September 30, 2009). Community VITA programs play a critical role in Texas and across the nation by helping lower-income individuals claim valuable tax credits and refunds, including the Earned Income Tax Credit, and the Child Tax Credit. CPPP has prepared a short and user-friendly presentation to educate volunteer tax preparers about the impact of savings on public benefits eligibility, as well as new flyers (in English and Spanish) that volunteer tax preparers can give to their low-income clients when helping prepare their taxes.

What We Know About Property Tax Lending So Far (10/18/2007)
Property tax lending is the practice of soliciting property owners who are delinquent in their property tax payments to take out a loan to cover the tax payments. In return, the lender takes over the tax lien on the property, allowing the lender to foreclose on the property if payments are missed. Local county tax assessors/collectors offer a wide range of options to delinquent property owners that would allow them to avoid taking out a property tax loan. Despite these options, property tax lending is a rapidly growing industry in Texas, targeted especially at residential homeowners, who account for roughly four out of every five tax loan borrowers. The Texas Finance Commission is now reviewing regulations governing this type of lending.

Our Grade Is In: Texas Receives "F" in Financial Stability (09/12/2007)
When it comes to our ability to achieve financial success, Texas residents are falling behind the rest of the country, according to a report released today by the national Corporation for Enterprise Development (CFED). According to the 2007-2008 Assets and Opportunity Scorecard, Texas was just one of five states that earned an “F” based on poor performance in the following areas: Financial Security, Business Development, Homeownership, Health Care, and Education.

Testimony on Texas College Savings Programs (06/28/2007)
Don Baylor presented testimony before the House Select Committee on Public and Higher Education Finance on policy options surrounding Texas’ college savings programs, including the Texas Tomorrow Fund, Texas Tomorrow Fund II, and the 529 college savings plan, to be managed by OFI Private Investments. This testimony emphasizes the importance of matching provisions for these programs in order to boost plan enrollment and incentivize college savings for working families.

Testimony on HB 3900 (05/7/2007)
Don Baylor provided testimony on HB 3900 before the Senate Subcommittee on Higher Education. HB 3900 relates to the Texas Tomorrow Fund II prepaid tuition unit undergraduate education program.

Testimony on Tax Filing Assistance for EITC and Low-Income Filers (04/18/2007)
Don Baylor testified before the Senate Finance and House Ways & Means committees on behalf of a proposal that would assist free tax preparation for EITC and other low-income filers.

Less Than Three Weeks Remain to Claim EITC (04/2/2007)
Most folks realize that less than three weeks remain to file federal income taxes. But did you know that if you earned up to $38,348 in 2006 you may be eligible for a large refund? The refund comes by way of the Earned Income Tax Credit, or EITC.

EITC 101 (03/26/2007)
First enacted in 1975 under President Ford, the Earned Income Tax Credit, or EITC, is a federal tax credit designed to "make work pay" by providing low- and moderate-income working families with a credit on their earned income. President Reagan called the EITC “the best anti-poverty, the best pro-family, the best job creation measure to come out of Congress.” Every year, the EITC lifts over 450,000 Texans"including 250,000 children"out of poverty while pumping billions of dollars into the economy. In Texas, the average EITC refund is $2,050. Find out if you or someone you know qualifies. Also access EITC data by House and Senate districts.

Rapacious Loan Sharks Stalk Low, Middle-Income Texans: Amarillo Globe-News (03/15/2007)
Loan sharks are preying on families across the nation, especially in Texas. At the federal level, Congress is helping to protect military families. But millions of working families remain vulnerable. Amarillo families"who earn 15% less than the average Texas family"are particularly at risk.

Loopholes Allow Loan Sharks to Prey on Hardworking Texans: San Antonio Express-News (02/16/2007)
Loan sharks are preying on families across the nation, especially in Texas. At the federal level, Congress is helping to protect military families. But millions of other families remain vulnerable. Families in San Antonio are among the hardest hit.

As Payday Lending Spreads Across Texas, Can It be Reformed or Regulated? (12/7/2006)
Payday lending, sometimes known as a cash advance, is a small, short-term, high interest loan that is intended to bridge the borrower's cash flow gap between pay periods. High-cost payday loans are considered among the most destructive financial products in the marketplace. With increasingly high lending volume in Texas"well over 2 million loans per year" and exorbitant interest rates (often higher than 500% APR), payday lending products drain over $280 million in earnings from Texas workers each year and pitch many borrowers into an endless cycle of debt. Across the country, consumer advocates have partnered with religious groups, military organizations, and mainstream financial institutions in an effort to push state regulators and lawmakers to curb payday lending abuses. Can Texas regulate the industry in a way that protects borrowers from the dangers of payday loans?

The State of Working Texas 2006 (09/6/2006)
Every year around Labor Day, CPPP issues a report on the status of the Texas economy in conjunction with the national Economic Policy Institute. This report finds that nearly five years since the 2001-02 recession, the economy has yet to rebound with advances in household income or real wages. In fact, Texas has shown a 6.2% decline in real median household income since 2002. Virtually all demographic groups have experienced this trend, with younger workers and African-Americans especially hard hit. On a positive note, although still above the national average, Texas' unemployment rate continues to decline and Texas is adding jobs at a faster rate than the U.S. as a whole.

Moving Forward: Common Sense Policies to Promote Prosperity for Working Texans (08/30/2006)
Just in time for Labor Day, CPPP is proud to release Moving Forward: Common Sense Policies to Promote Prosperity for Working Texans. The report analyzes the barriers facing low-income Texans and provides nine recommendations to promote prosperity and move the economy forward.

The Earned Income Tax Credit, the Child Tax Credit, and the Child and Dependent Care Credit (03/3/2006)
The Earned Income Tax Credit (EITC), the Child Tax Credit (CTC), and the Child and Dependent Care Credit are federally funded anti-poverty initiatives that help low-income individuals and families meet their basic needs. Households in poverty and those surviving on meager budgets can significantly benefit from these opportunities to increase their net income.

The Earned Income Tax Credit Provides Billions to Texans, Yet $1.2 Billion Went Unclaimed Last Year (02/27/2006)
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), ranking ahead of the more populous California. 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.

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 (02/7/2006)
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.

Policy Alert: Take Action Against Payday Lenders (09/15/2005)
On August 17, the Center for Public Policy Priorities and the Gone To Texas Coalition (including TexPIRG, Texas Impact, and Texas ACORN) called on Texas’ Consumer Credit Commissioner Leslie Pettijohn to request Texas Attorney General Greg Abbott to take enforcement action against companies that violate the state’s usury laws. You can help by contacting Commissioner Pettijohn and General Abbott and urging them to take all necessary steps to prevent payday lenders from operating outside of the law.

Letter to the Consumer Credit Commissioner (09/15/2005)
Read the letter that the Center for Public Policy Priorities and other local organizations sent to the Consumer Credit Commissioner, requesting that the Attorney General take enforcement action against payday lenders for violation of the state's usury laws.

Payday Update: Unregistered and Unregulated, Payday Lenders Put Consumers at Risk and Flout Texas Usury Laws (08/15/2005)
Since Texas lawmakers defeated HB 846"an industry-backed bill that would have tripled the interest rates on short-term “payday” loans"the Texas payday lending industry has adopted another business model to evade state and federal regulation. In July, Texas-based payday lenders regrouped as businesses operating under Texas’ Credit Service Organization Act. As a Credit Service Organization (CSO), a payday lending company dodges both federal guidelines restricting payday loans and the interest rate limits established by the Texas Finance Commission (TFC). Meanwhile, a recent TFC study demonstrates how Texas consumers are being gouged by these high-cost, short-term loans.

Foggy Business Climate Studies (06/30/2005)
Texas ranks relatively high on several “business climate” indices that compare state policies and outcomes related to economic growth and vitality. Texas’ low business taxes are often claimed to be a magnet for relocating businesses and a catalyst for interstate competitiveness and survival of existing firms. But in a new book, Grading Places: What do the Business Climate Rankings Really Tell Us? (http://www.epi.org/content.cfm/books_grading_places), author Peter Fisher finds that these indices are neither useful for companies in selecting sites nor for state policymakers in gauging economic competitiveness.

Study: Major Business Rankings Not Accurate Measure of TX's Business Climate (06/29/2005)
Texas prides itself on being a good for business state, but what’s its business climate really like?

Houston KIDS COUNT Conference on Children Powerpoint Presentations (06/15/2005)
The following presentations were given at the Houston KIDS COUNT Conference on Children, a half-day conference on children's issues in the wake of the 79th Legislative Session.

CSSB 1538: Senate Passes Bill To Help Low-Wage Workers Save for the Future, Bill Moves to House (05/11/2005)
On April 5 the Senate voted 30-1 to pass CSSB 1538 by Senator Barrientos. The House companion to this bill is HB 2450 by Representatives Naishtat, Luna, Guillen, and Jim Keffer. CSSB 1538 would establish a $1 million grants program at the Comptroller’s office to assist local communities in setting up Individual Development Accounts (IDA) for their low-income residents. The bill will be heard on Monday, May 16 at 2:00 p.m. or upon adjournment.

Oppose CSHB 846 (Flynn): Protect the Public from Predatory Payday Lenders (05/3/2005)
Texas has a longstanding tradition of fighting usury- in fact, specific interest rate caps were written into the original Texas Constitution. CSHB 846 substantially weakens these consumer protections and authorizes interest rates on loans as high as 780 percent!

Payday Lending Bill Offers No Protection to Cash-Strapped El Pasoans (04/28/2005)
The Texas House of Representatives is on the verge of rolling back consumer protection laws designed to prevent unscrupulous lenders from preying on cash-strapped Texans. Lawmakers are getting ready to vote on legislation by Representative Dan Flynn to legalize interest rates as high as 780 percent on so-called "payday" loans. Low-income El Pasoans rely on these high-interest loans when they have trouble paying their bills between paychecks.

Payday Loans Threaten Texans’ Financial Well Being (04/22/2005)
The Center for Public Policy Priorities today urged Chairwoman Beverly Woolley to oppose House Bill 846"a bill that would open up the practice of payday lending in Texas-in the name of promoting financial well being for all Texans. HB 846, by Rep. Dan Flynn, would make such loans more available, and more expensive, for desperate, cash-strapped Texans.

Individual Development Accounts Benefit Financial Institutions (04/8/2005)
An Individual Development Account (IDA) is an interest-bearing, tax-free savings account created to help low- and moderate-income families build assets and move into the middle class. Each dollar a participant saves in an IDA is matched by public or private sources (e.g., banks, foundations, etc.). IDA deposits are exclusively limited to earned income.

HB 846 is A Wolf in Sheep’s Clothing: Legislation Claims to “Regulate” Payday Lenders, But Actually Raises Interest Rates and Fails to Close Critical Loophole (04/1/2005)
A payday loan is a short-term, high-interest loan that some low-income Texans rely on when they have trouble paying their bills between paychecks. These storefront lenders charge exorbitant interest rates"sometimes as high as 800 percent"in addition to high “rollover” fees that extend the loan when borrowers can’t repay it on time. Payday loans take advantage of low-income families desperate for fast cash and can trap borrowers in a spiral of debt.

HB 2450/SB 1538: Legislature to Consider Bills That Would Help Low-Wage Workers Save for the Future (03/30/2005)
Representative Naishtat (HB 2450) and Senator Barrientos (SB 1538) have introduced legislation that would establish a $1 million grants program at the Comptroller’s office to assist local communities in setting up Individual Development Accounts (IDA) for their low-income residents. An IDA is an interest-bearing, tax-free savings account created to help low- and moderate-income families build assets and move into the middle class.

HB 846: A Bill to Regulate Deferred Presentment Transactions (03/7/2005)
I am here today because of the devastating impact so-called “payday” loans can have on low-income Texans and their families. While we support the intent behind CSHB 846"to regulate payday lenders"we cannot support the bill as filed.

Individual Development Accounts (02/22/2005)
An Individual Development Account (IDA) is an interest-bearing, tax-free savings account created to help low- and moderate-income families build assets and move into the middle class. Each dollar a participant saves in an IDA is matched by public or private sources (e.g., banks, foundations, etc.). IDA deposits are exclusively limited to earned income.

Texas Economy Got $4 Billion Boost from the Earned Income Tax Credit (02/21/2005)
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.

Testimony on Regulating Refund Anticipation Loans (02/21/2005)
In support of HB 398: Relating to the regulation of tax refund anticipation loans.

Testimony on the Earned Income Tax Credit (EITC) (02/14/2005)
The Center for Public Policy Priorities offers the following comments in support of HB 630.

Testimony on Individual Development Accounts (IDAs) (02/10/2005)
Individual Development Accounts (IDAs) enable low and moderate-income families to build assets. IDAs are interest-bearing, tax-free savings accounts that can be matched by qualifying public or private sources. All deposits into IDAs are limited to earned income. IDA matching ratios can vary"ranging from 1:1 to 7:1.

The Earned Income Tax Credit, the Child Tax Credit, and the Child and Dependent Care Credit (01/26/2005)
Earned Income Tax Credit (EITC), the Child Tax Credit (CTC), and the Child and Dependent Care Credit are federally funded anti-poverty initiatives that help low-income individuals and families meet their basic needs. Households in poverty and those surviving on meager budgets can significantly benefit from these opportunities to increase their net income.

How Resources are Treated in Federal Public Benefit Programs in Texas (01/26/2005)
Cheat sheet on how resources are treated in federal public benefit programs in Texas.

How the EITC Refund Affects Eligibility for Public Benefits (01/20/2005)
Presentation at the City of Laredo "Maximizing Federal Benefits" seminar.

Unemployment Insurance Legislation a Step in the Right Direction for Working Texans (02/24/2003)
Three bills under consideration by the 78th Texas Legislature seek to improve the Texas unemployment insurance (UI) system. They do so by ensuring equal access to unemployment insurance for victims of domestic violence and by modernizing how unemployment benefits are calculated to reflect workers' most recent employment history.

Texas Lacks Foundation for Long-Term Economic Success (12/18/2002)
The Corporation for Enterprise Development (CFED) has just released its annual Development Report Card for the States, which assesses state economic development capacity. Texas received poor marks in its economic performance and its capacity for future development. CFED warned against the temptation to cut programs as a quick fix for budget problems and recommended continued investment in the economic fundamentals needed for long-term gains.

Making Work Pay: The Earned Income Credit (02/19/2002)
The Earned Income Credit (EIC) is a special tax benefit for working people who earn low or moderate incomes. The EIC reduces the tax burden on these workers, supplements their wages, and supports a transition from welfare to work. Workers who qualify for the EIC can get back some or all of the federal income tax taken out of their pay during the year and even get some additional cash. Workers whose earnings are too low to have paid taxes can still get the EIC. Annual benefits can be as large as $4,008, but only about 80 percent of those eligible actually claim the credit. The Child Tax Credit now works towards a similar end"reducing the tax burden of parents by up to $600 annually per qualifying child. Any remainder is then refundable to the parent.

Earned Income Credit (01/28/2000)
The Earned Income Credit (EIC) is a special tax benefit for working people who earn low or moderate incomes. The EIC reduces the tax burden on these workers, supplements their wages, and supports a transition from welfare to work. Workers who qualify for the EIC can get back some or all of the federal income tax taken out of their pay during the year and even get some additional cash. Workers whose earnings are too small to have paid taxes can still get the EIC. Benefits can be as large as $3,815, but only about 80 percent of those eligible actually claim the credit.

Food and Nutrition Programs and EITC (02/20/1996)
This edition will provide an update on current Congressional action and negotiations affecting food and nutrition programs and the Earned Income Tax Credit.

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