Happy 45th Anniversary to the Earned Income Tax Credit. Thoughts on One of the Most Expensive Costing Credits in the U.S. Tax Law
DOI:
https://doi.org/10.33423/jabe.v22i4.2911Keywords:
Business, Economics, Earned Income Credit, Tax Credits, Refundable Credit, U.S. Tax LawAbstract
The earned income tax credit (“EITC”) or what was known as the “work bonus plan” was originally enacted as part of the Tax Reduction Act of 1975 (Pub. L. 94- 12). At the time, the law was intended to be enacted on a temporary basis to assist low income families with children. However, over its 45-year history, this credit has evolved and been amended numerous times by different presidential and congressional administrations in efforts to improve it. This article will explore the legislative history of this credit, the original intent, and whether the law has had positive or negative implications for American taxpayers.
Downloads
Published
2020-08-04
How to Cite
Lahijani, R. (2020). Happy 45th Anniversary to the Earned Income Tax Credit. Thoughts on One of the Most Expensive Costing Credits in the U.S. Tax Law. Journal of Applied Business and Economics, 22(4). https://doi.org/10.33423/jabe.v22i4.2911
Issue
Section
Articles
License
Please review our Copyright Notice.