How Expanding EITC Will Benefit 1.5 Million Low-Income Older Workers
Aida Farmand (),
Bridget Fisher and
No 2021-02, SCEPA policy note series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School
A popular cash transfer program credited with lifting millions out of poverty, the Earned Income Tax Credit (EITC) also reduces wages for non-college educated workers, particularly older workers. Meanwhile, eligibility rules have long prevented most older workers from receiving EITC benefits at the same rate as their younger counterparts. Expanding EITC benefits permanently would offset some of these lost earnings and help stabilize older workersâ€™ earnings. In 2021, Congress enacted a temporary EITC expansionâ€”and our research shows that a permanently expanded EITC would benefit millions of older low-income workers.
Keywords: Covid-19; Earned Income Tax Credit; EITC; low-income; Workers; Jobs; Unemployment; Risk; Older workers; retirement income; retirement; retirement savings (search for similar items in EconPapers)
JEL-codes: E21 E24 I14 J32 J38 J62 J83 (search for similar items in EconPapers)
Pages: 6 pages
New Economics Papers: this item is included in nep-age, nep-mac and nep-pbe
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
https://www.economicpolicyresearch.org/images/docs ... sion_PN_09132021.pdf (application/pdf)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:epa:cepapn:2021-02
Access Statistics for this paper
More papers in SCEPA policy note series. from Schwartz Center for Economic Policy Analysis (SCEPA), The New School Contact information at EDIRC.
Bibliographic data for series maintained by Bridget Fisher ().