February 26, 2010

Petition to extend tax relief for low income families!

From Kathryn Baer, friend of Bread, comes word of her new effort to muster support for the new Child Tax Credit. This new policy, as part of the new economic recovery act, makes many more low-income families eligible for a tax credit. Because the credit is partially refundable, filers can get a check from IRS -- even though they owe no income tax.

But this tax credit will expire at the end of the year unless it's extended. Since the tax credit broadly benefits the middle class, Congress is likely to extend it -- but it's possible that Congress could let the policy revert to the minimum income requirement established under the 2001 Bush tax cuts. Baer reports that the Center on Budget and Policy Priorities says that 600,000 children would fall into poverty if this happens. Learn more here.

So we encourage you to sign petition to support a permanent extension of the current Child Tax Credit. Click to sign the petition here.

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