Posts Tagged ‘Working Family Credit’
Poor People Have the Highest Effective Tax Rates
An argument used to undermine programs that provide tax relief for low-income people—such as Minnesota’s Working Family Credit (WFC) and Child & Dependent Care Credit—is that they provide tax relief to households that are not paying taxes in the first place. However, poor people do pay taxes. In fact, as a percent of income, they…
Read MoreHouse & Senate Tax Bill Prioritized Corporations over Working Families
It’s been a whirlwind week on the Minnesota tax policy front. On Tuesday, the House and Senate Conference Committee approved a tax bill. The bill went quickly to the House floor, where it passed the same day. On Wednesday, the Senate approved the same bill. And on Thursday, Governor Dayton vetoed it, citing among other…
Read MoreRole of Government in Reducing Poverty
Poverty rates fell significantly from 2014 to 2015, based on new data from the U.S. Census Bureau, summarized in a recent North Star article. While poverty fell significantly in 2015, poverty rates in Minnesota and nationally remain above pre-Great Recession levels. Poverty rates would be much higher but for federal and state government programs that…
Read MoreWorking Family Credit Works
Conservatives and progressives don’t agree on much—especially in the area of tax policy. However, one program that draws support from both ends of the political spectrum is Minnesota’s Working Family Credit. This tax credit helps families across the state meet basic needs while also encouraging work. At the same time, the credit helps to reduce…
Read More