BREMERTON, Wash. --- Steve Bakke's opinion column Sept. 1, "$15 minimum wage: Good politics, bad policy?,” points out his solution to struggling low-income workers: earned income tax credit (EITC).
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More than half of all income growth in the U.S. since 1976 has gone to the top 1%. Now one in eight citizens live in poverty. The 2017 tax code gives a massive tax cut to the wealthy and big corporations, making our growing wealth divide even worse. Millions of working families were ignored. Now Congress is looking to extend more tax breaks. It is critical that no business tax breaks should be extended or expanded without also helping low-income workers and their families through expansions of the EITC and Child Tax Credit (CTC).
The Working Families Tax Credit Relief Act is pending in Congress and already has at least 42 co-signers. This bill would expand the EITC and CTC and 472,000 children in Iowa would benefit. We need the Working Families Tax Credit Relief Act for the good of our community.