This Week’s Must-Read: Taxing Airbnb to Increase the EITC
Massachusetts Senate proposes bill to increase the EITC by taxing short-term rentals, the Tax Credits for Working Families explores how the EITC could make housing more affordable, and CFED covers policy reforms that should be considered during the 2016 presidential election season.
- In response to a New York Times opinion piece on raising the EITC rather than increasing the minimum wage, letters to the editor argue that the EITC complements higher wages but does not substitute them.
- An Occidental College professor proposes that the EITC could be expanded to include a housing supplement that helps families afford rising rental costs.
- CFED highlights the need for the presidential candidates in this upcoming election need to focus on reforming tax programs. Unfair tax programs drive an enormous amount of the country’s income and wealth inequality, which have risen to Great Depression-era levels.
- The Massachusetts Senate is proposing an economic development bill that increases the EITC by taxing short-term rentals through companies like AirBnb.
- Combining affordable college with Children’s Savings Accounts (CSAs) would be the ideal combination to encourage college enrollment among low-income students. CSAs encourage children to see themselves as future college students.
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