Protect and Strengthen Tax Credits for Low-Income Families
In 2010, Bread for the World members will urge Congress to adopt changes to U.S. tax policy that will benefit low-income families.
This year, taxes will be near the top of the agenda in Congress because a series of tax cuts and tax credits enacted in recent years will expire. In the midst of the debate over which taxes to change and which to renew, the needs of low-income people could easily be lost.
Our 2010 Offering of Letters asks Congress to protect and strengthen key tax credits that can make a big difference for low-income workers and their families.
What Do Tax Credits Have to Do with Hunger?
The tax code has many incentives that encourage taxpayers to make certain fiscal choices, such as saving for retirement, getting a college education, or owning a home.
But many of those credits are out of reach for low-income earners who often don't have the same tools for these kinds of expenditures or long-term financial investments.
- We will urge Congress to protect and strengthen the Earned Income Tax Credit (EITC) and the Child Tax Credit.
- We will also seek additional funding for Volunteer Income Tax Assistance (VITA) sites, which provide financial education and free tax preparation assistance to low-income people.
This Offering of Letters will help policy makers understand that ending childhood hunger requires a broader array of policies that address the issue of poverty as well as strong nutrition programs aimed at low-income children and their families.
The ultimate goal? That fewer families—fewer children—will go to bed hungry each night.