Schumer Announces Permanent Extension Of "Earned Income Tax Credit' & "Child Tax Credit' Included In Just-Unveiled Tax Package; Senator & Ny Leading Anti-Poverty Advocates Have Pushed For Permanent Extension Of Critically-Needed Tax Credits For Working Families

Press Release

U.S. Senator Charles E. Schumer today announced that the just-unveiled must-pass tax package, the "Protecting Americans From Tax Hikes Act of 2015," includes a permanent extension of key provisions in two anti-poverty tax credits that help working families in New York. The "Earned Income Tax Credit" (EITC) and the "Child Tax Credit" (CTC) are important to nearly 1.5 million children in 755,000 New York families. These provisions were scheduled to expire in 2017, and if they do, more than 1.1 million New Yorkers will be pushed into, or deeper into poverty. Earlier this month, Schumer stood alongside leading anti-poverty advocates to call on Congress to make the tax provisions permanent. Schumer said that if the tax bill passes, critical provisions in these two credits will be made permanent.

"Right now, nearly two million working parents in New York rely on two important tax breaks that allow them to make ends meet. These tax credits are the Earned Income Tax Credit and the Child Tax Credit and combined they are widely viewed--even in our polarized Congress--as successful programs that have reduced poverty and promoted entry into the workforce," said Senator Schumer. "Our most vulnerable families, many on the verge of poverty, cannot afford harsh cuts in these benefits and that's why I have been pushing to make critical provisions in these tax credits permanent. I will continue to push these priorities until this bill passes and these two tax benefits are permanently inscribed in the U.S. tax code."

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