More than a dozen states, including New York and Connecticut, added or expanded earned income tax credits in 2021. Here’s what to know about this write-off for low to moderate earners.
Still, policy experts say these state-level changes may offer much-needed relief at tax time.
Low-wage workers have been among the hardest hit during the pandemic, said Samantha Waxman, senior policy analyst at the Center on Budget and Policy Priorities. "These folks have been more likely to lose their jobs and their income due to Covid-19," she said."Or if they work as front-line essential workers and have been able to keep their jobs, they tend to have higher infection risk."
Retail, healthcare and food services are among the most common industries for EITC-eligible workers. "Overall, it's a relatively well-targeted form of tax relief," said Katherine Loughead, senior policy analyst at the Tax Foundation."It's means-tested in a way that benefits those most in need, while also encouraging participation in the labor force.
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