In 2009, nearly a million North Carolinians benefited from the Earned Income Tax Credit. The new leadership of the state House has publicly pledged not to raise taxes. Gutting the Earned Income Tax Credit would amount to doing just that and would harm those who already pay the highest share of their income.
Low-income working families in fact pay a larger share of their income in total state and local taxes than higher-income households. The Earned Income Tax Credit is essential because it offsets regressive taxes and makes the system fairer. In addition to helping low-income families make ends meet, these funds provide a direct stimulus to our local businesses. State EITC funds are not sitting in savings accounts, but rather are being spent directly back into the local economy.
The EITC is an example of an investment in our local communities that we cannot afford to lose. We must protect the Earned Income Tax Credit.
