Financial Self Sufficiency and EITC

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According to yesterday's blog post by United Way Worldwide's US President, Stacey Stewart, "Congressional leaders should be commended for crafting a bipartisan package that will save the working family credits. The Protecting Americans from Tax Hikes (PATH) Act of 2015, while not perfect, is a strong step forward for working Americans and will make it easier for struggling families to achieve financial stability and to pay for things like child care, reliable transportation to work, or household groceries. Congress should stand for these working families and save key provisions of the EITC and CTC by supporting the PATH Act."

Take Action

United Way Worldwide has a really easy to use advocacy tool on their site about this issue. Simply click here, type in your address. From there you will be presented with a standard letter that you can personalize and once done you can submit the email and it will be sent to your district's representatives. How easy is that!

Impact on NC

According to the NC Budget and Tax Center, the Earned Income Tax Credit and Child Tax Credit help moms do the best for their kids. It’s essential for working moms and their children that (1) Congress makes permanent key provisions of these federal tax credits and (2) state lawmakers restore the state EITC they allowed to expire in 2013. The stakes for these families are high. In North Carolina, more than 520,000 families would be affected with more than 1 million children harmed by the loss of these important credits. To learn more, read analysis from the Center on Budget & Policy Priorities here.

Our Local Investment

According to the OnTrack Financial Education and Counseling website: "From 2007-2013, our Free Tax Preparation Program has prepared 3,730 tax returns for almost $5 million in refunds, saving our tax clients nearly $750,000 in fees."

In the current 2015-16 fiscal cycle, United Way of Asheville and Buncombe County is providing just over $20,000 in grant money for OnTrack's Money Self Suffiency Progam which includes their free tax preparation assistance program. Last year this program served 600 clients with an average annual income of $23,048.

Learn more about OnTrack's tax assistance program here.

And as always, remember to dial 2-1-1 to learn more about these and other programs that can assist with financial stability, health and wellness, education and more.

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