The federal government proposed rules to regulate payday lenders and politicians call for an expansion of the Earned Income Tax Credit (EITC).
- The Consumer Financial Protection Bureau proposed a new set of rules to regulate shorter-term loans that could dramatically shrink the industry and help borrowers suffering from spiraling debt.
- Sandy Levin (D-MI) and Sen. Sherrod Brown (D-Ohio) call to expand the EITC.
- Authors argue for a higher income threshold and inclusion of self-employment income for California’s EITC.
- Harold M. Metts (D-RI) is sponsoring legislation to expand Rhode Island’s refundable EITC to 30 percent of the federal credit.
- The Huffington Post gives insight into tax planning strategies surrounding higher education and graduation.