The Earned Income Tax credit helps over half a million Utahns every year.
Working Family Tax Credits Help Over Half A Million Utahns Every Year
Utah is ready to be the 30th state to create a state version of the federal Earned Income Tax Credit (EITC)
Every year, 20 million working families, including 200,000 in Utah, claim the Earned Income Tax Credit when they file their taxes. These tax credits are the #1 program lifting children and families out of poverty. In 2013, the EITC lifted over 6 million Americans out of poverty, including 70,000 here in Utah (including 32,000 children), by letting them keep more of what they earn.
The Power of the Credits
Good for Family Financial Stability: The EITC encourages work and promotes self-sufficiency for lower-income families.
Good for Education Success: The EITC leads to improved educational outcomes for young children in low-income households. Evidence shows students whose families receive larger credits have higher test scores and are more likely to go to college.
Good for Business and Community: Nearly half a billion dollars is pumped into Utah’s economy each year by the EITC – which families then spend to cover child expenses, transportation costs, groceries, and other necessities for working parents.
What’s at Stake?