| Despite a healing economy, not all Colorado families are feeling the recovery from the Great Recession. Many hardworking Coloradans have seen their wages stay flat or actually decrease.That’s why the Colorado Earned Income Tax Credit (EITC) is more important than ever.The EITC puts cash in the pockets of Colorado working families, rewarding families who are often working multiple jobs and are just trying to make ends meet. It’s an investment in Colorado that encourages and rewards work while helping to offset the impact of stagnant wages.
The federal Earned Income Tax Credit (EITC) is a refundable tax credit for working families. Nearly 350,000 Coloradans — 15 percent of the population — benefit from the federal EITC, putting more than $750 million back into the hands of Colorado workers to spend in the local economy. Colorado’s state-level EITC is equal to 10 percent of the federal tax credit, but lawmakers will need to activate it for it to become effective in 2015. House Bill 15-1195 fast-tracks the EITC and makes it a permanent tax credit now. The passage of HB 1195 will allow Colorado families to the take the EITC in tax year 2015. Click here to find out how to help! Click here to sign-on to our coalition! |
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The EITC benefits Colorado families across the entire state
The EITC supports military families: In 2010, roughly 25,000 Colorado military families received the federal EITC.
The EITC helps working mothers: In 2010, about 290,000 Colorado mothers received the federal EITC.
The EITC helps rural Colorado: In 2010, 18 percent of the EITC recipients were families in rural Colorado.
The EITC benefits middle-class families that have been hit hardest by the recession and who have benefited the least from the economic recovery. These are families that are still struggling to make ends meet. The EITC can make the difference in their family budgets.
The EITC is a vital step toward creating a Colorado economy that works for everyone, not just the wealthiest few. That is why we need the EITC in 2015!
Support working families! Support the Colorado EITC in 2015!
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