Benefits of Preserving and Extending Tax Credits for Families in Alabama: A Middle Class Prosperity Project Staff Report Prepared for the State of Alabama
Loading...
Serial Number
Levin Center Identifier
Document Date
2015-12-02
Report Length
11 pages
Policy Agendas Project Major Code
Policy Agendas Project Minor Code
Additional, Minority, Dissenting Views
Found Using Methodology
Yes
Committee(s)
Subcommittee(s)
Commission(s)
Idependent Author(s)
Brief Executive Summary
On behalf of the House Committee on Oversight and Government Reform, Senator Elizabeth Warren and Representative Elijah E. Cummings issued a staff report lookings into the tax landscape in Alabama, specifically critical tax credits that are expiring. The report shows that these expiring tax credits are directed to low- and middle-income individuals, families, and children. The report finds that if these tax credits are not renewed then thousands of these families will face harsh economic penalties which could impede social mobility. Additionally, the report finds that the consequences this will have on families will carry over to the Alabama economy as well.