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By: Amber Moodie-Dyer, MSW, Policy Advocate, Budget & Tax Center and Tazra Mitchell, MPP, Policy Analyst, Budget & Tax Center
Tax Day marks a somber day for nearly a million of North Carolina’s working families: it is the last time North Carolinians can claim the state Earned Income Tax Credit (EITC). Unless state lawmakers reverse course during the Short Session that begins in May, people who work but earn low-wages will bid a final farewell to the state EITC.
During the 2013 Legislative Session, North Carolina lawmakers put an end to the state EITC—which helps low-wage workers keep more of their income so they can afford basic necessities, like child care—while pursuing deep tax cuts that primarily benefit wealthy individuals and profitable corporations. These two actions combined tilt the tax system even more out of balance and drain billions of dollars to help meet the needs of a growing population. The revenue losses could be even deeper if further cuts are made to the corporate income tax, as is a possibility under the new tax plan. State lawmakers need to #StopTheCuts and instead invest in the building blocks of a strong economy.
Each of the state’s 100 counties benefit from the state EITC. See this NC Budget and Tax Center report to learn just how much your community will lose amidst the loss of the EITC.
Want to take action? Tell lawmakers to save this modest but vital tax credit in this petition!