Jump to content

User:Daask/sandbox/Livable Incomes for Families Today

From Wikipedia, the free encyclopedia

For draft subjects, see Template:Draft article#Usage.

Livable Incomes for Families Today
Great Seal of the United States
Acronyms (colloquial)LIFT
Legislative history

Livable Incomes for Families Today is

Context

[edit]

LIFT is very similar to the Earned Income Tax Credit, which has achieved bipartisan support.[1] It comes in the wake of expansions of state-level EITC systems, including California and Maryland expanding eligibility criteria, Deleware making the credit refundable, and New Jersey increasing the amount.[2]

By 2018, there was widespread recognition that President Trump's Tax Cuts and Jobs Act of 2017 benefited the wealthy substantially more than the average American,[3] and it had become unpopular among Americans.[4][5] LIFT was designed to have the reverse impact of these tax cuts.[1]

Spurred by the success of Bernie Sanders' 2016 presidential campaign, which featured novel policies including free college education and single-payer healthcare, all the major 2020 Democratic presidential candidates offered substantial new social policy proposals.[6] Politico reported that "the mood on the left is freewheeling, collaborative and ambitious" prompting substantial economic proposals such as LIFT which would previously have been "unthinkable".[1]

In 2017 and 2018, a number of Democrats proposed substantially expanding the EITC. In addition to LIFT, Representative Bonnie Watson Coleman (D-NJ) proposed the EITC Modernization Act, Senator Sherrod Brown (D-OH) and Representative Ro Khanna (D-CA) proposed the Grow American Incomes Now (GAIN) Act, and the Economic Security Project proposed the Working Families Tax Credit.[7][8][1][9][10]

Reception

[edit]

The program excludes the poor with no income, which may hurt its popularity with critics on the left.[1] LIFT taps interest in universal basic income, although it is not actually universal.[1]

Influence

[edit]

In October 2018, President Trump proposed a 10% reduction in taxes for middle-class households.[5][3] Ann O'Leary, a policy adviser to the 2016 Hillary Clinton presidential campaign, claims these proposals were a response to LIFT, saying "She got him to pay attention, and he didn’t say 'You're a crazy spending lefty.' He said, 'You're right, and I’m gonna do it better.'"[1]

LIFT contributed toward California governor Gavin Newsom's Working Families Tax Credit, a 2019 proposal to expand California's state-level Earned Income Tax Credit.[8]

See also

[edit]

Citations

[edit]
  1. ^ a b c d e f g Robertson 2018.
  2. ^ Tsighe 2018.
  3. ^ a b Gallu 2018.
  4. ^ Newmyer 2018.
  5. ^ a b Werner & Paletta 2018.
  6. ^ Mangu-Ward 2018.
  7. ^ McAuliffe & McElwee 2018.
  8. ^ a b Foster & Hoene 2019.
  9. ^ Montlake 2019.
  10. ^ Aurilio 2018.

References

[edit]
  • Aurilio, Anna (2018). "Working Families Tax Credit policy details". Economic Security Project.
  • Foster, Natalie; Hoene, Chris (15 January 2019). "Newsom's bold proposal - a cost-of-living refund to make California affordable". San Francisco Chronicle.
  • Gallu, Joshua (20 October 2018). "Trump's Pre-Election Tax-Cut Promise Leaves GOP Leaders Baffled". Bloomberg.com.
  • Mangu-Ward, Katherine (10 December 2018). "The New Socialists Didn't Win". Reason.
  • McAuliffe, Colin; McElwee, Sean (15 November 2018). "Moving Beyond the Earned-Income Tax Credit". The Nation.
  • Montlake, Simon (25 March 2019). "Childless workers often lose out on tax credits. Not with this program". The Christian Science Monitor.
  • Newmyer, Tory (23 October 2018). "Trump's latest middle-class tax cut pitch could backfire". Washington Post.
  • Robertson, Derek (1 October 2018). "Who's Winning the Democrats' Wonk Primary?". Politico.
  • Tsighe, Ariam (Oct 19, 2018). "Tax Reform Friday: Earned Income Tax Credit Expansions, the New Frontier?". SALT Talk Blog.
  • Werner, Erica; Paletta, Damian (23 October 2018). "Trump promises to unveil 'resolution' for middle-class tax cut in midterm messaging move". Washington Post.

Further reading

[edit]
[edit]



Category:Personal taxes in the United States Category:Tax credits Category:Tax terms Category:Taxation and redistribution Category:United States proposed federal taxation legislation‎ Category:Welfare in the United States

Retrieved from "https://en.wikipedia.org/w/index.php?title=User:Daask/sandbox/Livable_Incomes_for_Families_Today&oldid=1023478379"