Update: June 8, 2011
The EITC's Benefits by District
One in seven Oregon taxpayers utilize the Earned Income Tax Credit (EITC), which helps working families with children make ends meet. Senate Bill 349 would make the credit more rewarding for these families.
How many taxpayers by Oregon legislative district claimed the EITC in 2008? How many EITC dollars flowed to each district?
Read The EITC's Benefits by District: SB 349 would help a significant share of lawmakers' constituents. Click here for a PDF copy, with district tables.
The EITC and Tax Refund Products by District
HB 3640 would add consumer protections to Refund Anticipation Loans (RALs) and Refund Anticipation Checks (RACs). These are high-interest loans or services with steep fees, respectively, marketed as quick tax refunds. These products siphon dollars that would otherwise go to EITC recipients.
How many taxpayers in each district who claimed the EITC in 2008 also applied for one of these tax refund products?
Read The EITC and Tax Refund Products By District: HB 3640 would regulate tax refund products. Click here for a PDF copy, with district tables.
Think the Ryan Budget Plan Is Scary? Consider the Balanced Budget Amendment
In degree of harm to the American people, the draconian federal budget plan proposed by Congressman Paul Ryan (R-WI) earlier this year pales in comparison to a Republican proposal for a balanced budget amendment to the U.S. Constitution.
A balanced budget amendment is a recipe for economic mayhem. The Center on Budget and Policy Priorities (CBPP) reports, "By requiring a balanced budget every year, no matter the state of the economy, such an amendment would raise serious risks of tipping weak economies into recession and making recessions longer and deeper, causing very large job losses. That's because the amendment would force policymakers to cut spending, raise taxes, or both just when the economy is weak or already in recession - the exact opposite of what good economic policy would advise."
A balanced budget amendment would also necessitate devastating cuts to programs that protect middle-class and vulnerable Americans. The amendment would require a balanced budget starting in fiscal year 2018. According to CBPP, the amendment's chief sponsor admits that meeting the amendment's time frame would require raising the Social Security retirement age to 70 and cutting Medicare more than the Ryan budget. It would require slashing Medicaid and the Supplemental Nutrition Assistance Program (food stamps). And it would require, by 2021, slashing 70 percent of non-security discretionary spending -- the area of the federal budget that funds education, environmental protection, protection of the nation's food and water supply, medical research, and services for disadvantaged or abused children, frail elderly people, and people with severe disabilities.
The balanced budget amendment proposal had its first hearing earlier this month in the U.S. House Judiciary Committee, where it's expected to pass next week.
Of Note