Localized Basic Income Safety Net
Gavin Newsom, the new governor of California, has big plans to revamp the state’s poverty-prevention tax credit program so that it helps more people who are struggling to make ends meet.
Currently, the federal Earned Income Tax Credit (EITC) boosts the annual tax refund to households making less than $45,802. The state version in California, the California Earned Income Tax Credit (CalEITC) adds an extra refund for those making less than $22,000 per year.The new plan would more than double CalEITC’s funding so that 400,000 more low-income families can receive assistance on a monthly instead […]
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