Working moms in Mississippi are never off the clock. From packing lunches in the morning to tucking kids in at night, moms put in a lot more than a full day?s work. And every dollar they work for is hard-earned.
For more than 21 million working moms across the country, including over 300,000 in Mississippi, the?Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) are important tools to help them make ends meet for their families. The credits offset payroll and income taxes, supporting work, increasing wages, and reducing poverty.
The boost in income means that moms are better able to pay for the very things that allow them to work and improve their family?s situation, such as child care and transportation. Combined, the EITC and CTC lifted 9.4 million people out of poverty in 2013, more than any other federal program besides Social Security.
Children whose families receive the tax credits perform better in school and mothers and their children who benefit are healthier than families that do not. Larger tax refunds, like those provided by these important credits, also boost college enrollment by making college more affordable for low- and moderate-income households.
Some provisions of the federal EITC and CTC are set to expire at the end of 2017. Without action many many will lose this boost in income. Get the details from the Center on Budget and Policy Priorities here.