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Lawmakers in Missouri Look to Adopt EITC
Lawmakers in Missouri are considering adopting a state Earned Income Tax Credit (EITC) that would benefit working families and the children that need the most support.
The EITC is often described as one of the most effective anti-poverty tools available, because it's a refundable tax credit that flows directly to working low-income citizens. It rewards work, increases economic mobility, reduces inequality, and improves children's health.
The EITC would Improve the health and long-term economic prospects of more than 1.3 million Missourians, including nearly 600,000 children. The policy would also life nearly 100,000 Missourians out of poverty every year, including more than 50,000 children and will keep parents working.
Common Sense Kids Action supports the state-based EITC policy, because the policy offers a cash-back tax credit available to qualifying low- and moderate-income working individuals and families. Evidence from the federal EITC shows that it helps recipients improve their economic stability and that kids from recipient families perform better in school.
Common Sense Kids Action is proud to join the Missouri Budget Project in supporting the state Earned Income Tax Credit.