Nonprofit, nonpartisan journalism. Supported by readers.

Donate
Topics

Minnesota likely to see progress on tax goal while Congress punts

President Obama's budget calls for doubling the value of the Earned Income Tax Credit for some beneficiaries.
REUTERS/Yuri Gripas
Current law and White House's proposed childless worker EITC parameters
Current lawProposal
Phase-in rate7.65%15.3%
Phases in up to$6,570$6,570
Maximum credit$503$1,005
Phase-out rate7.65%15.3%
Phase-out starts*$8,220$11,500
Phase-out ends*$14,790$18,070
*Under both current law and the proposal, levels are $5,500 higher for married filers.
Article continues after advertisement

State EITC spin-offs
% of Federal EITC
Maryland25/50
Wisconsin4–34
Minnesota33 (avg.)
Vermont32
New York30
Connecticut25
Rhode Island25
Virginia20
Delaware20
New Jersey20
Kansas17
Massachusetts15
Iowa14
Washington10
Colorado10
New Mexico10
Nebraska10
Illinois10
Indiana9
Oregon8
Michigan6
Oklahoma5
Ohio5
Maine5
Louisiana3.5
Source: Stateline
Article continues after advertisement