(Washington, D.C., Thursday, September 23, 2021) – Amid both an ongoing pandemic and stubborn economic slowdown, Congress must pass an expansive recovery bill to revamp our economy and society—all paid for by making our tax code more fair and equitable. This can be funded by increasing taxes for those who make more than $400,000 annually and/or by changing corporate tax practices.
Recently expanded federal assistance programs like refundable tax credits (Earned Income Tax Credit and/or Child Tax Credit) and the Supplemental Nutrition Assistance Program play pivotal roles in preventing families from falling into – and staying out of – poverty.
A recent survey showed that food insecurity dropped from 13.7% to 10.2% following the first rounds of the expanded CTC payments, and experts predict that it could eventually cut child poverty in half.
This is a huge opportunity to address so many of the systemic issues laid bare by the pandemic, including the importance of access to affordable, quality childcare, paid sick and family medical leave, investing in the health and wellbeing of our children. Congress is on the verge of tackling some of these big issues, making a dramatic difference in the lives of millions of families nationwide.
The government’s annual Income and Poverty Report, now reflecting data from the 2020 COVID shutdown, highlights the importance of federal assistance programs in helping families stay out of poverty regardless of their COVID status. Despite the availability of vaccines, millions of Americans – including middle-income and working-class families – are out of work, out of their homes, and on the brink of hunger and homelessness.
The Friends Committee on National Legislation (FCNL) lobbies Congress and the administration to advance peace, justice, opportunity, and environmental stewardship. Founded in 1943 by members of the Religious Society of Friends (Quakers), FCNL fields an expert team of lobbyists on Capitol Hill and works with a grassroots network of thousands of people to advocate for peace and justice. FCNL is a nonpartisan organization with a long and trusted record of working across political divides to achieve positive change.