1、Congressional Research Service The Library of CongressCRS Report for CongressReceived through the CRS WebOrder Code RS20470Updated September 1, 2000The Earned Income Tax Credit: Current Issues and Benefit AmountsMelinda T. GishAnalyst in Social LegislationDomestic Social Policy DivisionSummaryThe ea
2、rned income tax credit (EITC), established in the tax code in 1975, offerscash aid to working parents with relatively low incomes who care for dependent children.(Smaller credits began in 1994 for low-income workers with no children.) The EITC isthe only federal cash aid available to all working poo
3、r families with children. For eligiblefilers with income tax liability, the EITC reduces their taxes. However, most of thecredits go to those who owe either no taxes or amounts smaller than their credits. Thesepeople receive lump-sum credits in the form of U.S. Treasury checks at the end of thetax y
4、ear. A small minority (less than 5%) of EITC claimants receive advance credits withtheir paychecks. To be eligible for the advance EITC, the employee must have aqualifying child. In January, 2000, President Clinton announced a proposal to expandthe EITC. In its FY2001 budget, the Administration esti
升级VIP 