The EITC was put in place in the 70s, and studies show it works well to alleviate poverty. Basically it gives money back to workers whose incomes put them below the poverty line after taxes. People with children are eligible for the biggest refunds. Sherrod Brown wants to expand the tax credit to give more to workers without kids, too.
BROWN: "How do we in this economy when the 1 percent do better and better and better, how do we cut corporate taxes but not do anything for people who are working hard, and simply want a chance to get ahead?"
But agreement on the details might be hard to find: Republicans in the house have called for cuts to corporate tax rates and across-the-board cuts for individuals. And President Obama tonight is expected to push for closing tax loopholes for the wealthy, higher capital gains taxes, and a $500 credit for families with two working parents.
