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Earned Income Tax Credit (EITC) Awareness Day
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About this event
Today is Earned Income Tax Credit (EITC) Awareness Day.
Organizations around the country come together to raise awareness and uplift the importance of the long-established EITC.
This year, in honor of the largest EITC in our Colordo's history, Governor Polis issued a proclamation in honor of the day.
The EITC is a powerful, targeted tool to give a boost to working people.
The EITC is a refundable, cash-back tax credit for families who earn low incomes. This means families could get money back even if they owe $0 in taxes in a given tax year.
Originally enacted at the federal level in the 1970s, the policy has a history of bipartisan support, and its efficacy is backed by decades of research.
Children in families who claim the EITC have better outcomes at birth, improved education outcomes, and increased lifetime earnings. Colorado should do all we can to ensure families are able to find and claim this and other refundable credits (i.e. the Child Tax Credit) they qualify for.
As a refundable tax credit, expanding and preserving our EITC is frequently among the Colorado Fiscal Institute's top priorities.
Learn more about the Earned Income Tax Credit on the Colorado Fiscal Institute's
website
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