The tax credits include a refundable portion which is

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The tax credits include a “refundable” portion which is paid
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to individuals and families that owe no income tax for the year. This portion of the tax credits act as “negative income tax”. Earned Income Tax Credit (EITC): based on a complicated calculation which includes the family size and the amount of qualifying earned income. Child Tax Credit:$1,000 per qualifying child under 17 years old. The credit phases out for married couples with adjusted gross income of $110,000 and single parents over $75,000. SNAP This is a food program for low-income individuals and families. SNAP used to be called the food stamp program and stands for Supplemental Nutrition Assistance Program. Run by the USDA (United States Department of Agriculture). Participants receive a debit card which is accepted in most
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grocery stories for the purchase of food Housing Assistance Various housing programs are administered by the Department of Housing and Urban Development (HUD) including rental assistance, public housing and various community development grants. SSI This is a program to pay cash to low-income individuals over 65 years of age or under 65 if the individual is blind or disabled. SSI stands for Supplemental Security Income and is administered by the Social Security Administration.
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Pell Grants This is a grant program administered by the Department of Education to distribute up to $5,550 to students from low- income households to promote postsecondary education (colleges and trade schools). TANF This is a combined federal and state program that pays cash to low-income households with the goal of moving individuals from welfare to work.
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  • Fall '19
  • Taxation in the United States, Program evaluation

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