Valley lawmakers hope to raise tax credits for working families - News weather sports for Youngstown-Warren Ohio

Valley lawmakers hope to raise tax credits for working families

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Two Valley legislators are making a stand to support working families here in northeast Ohio and across the nation. 

Both Democratic Congressman Tim Ryan and Senator Sherrod Brown are introducing legislation Wednesday that is aimed at raising the Earned Income Tax Credit for working families. 

Rep. Ryan, who is co-sponsoring the bill if the House of Representatives, is looking to expand the EITC, more than doubling the amount some families would get back on their tax returns.  

"This would put an extra $12,000 in the pockets of hardworking families making $75,000 a year. This bill will give Americans the raise they deserve," said Congressman Tim Ryan.

Ryan, along with co-sponsor Democratic Representative Ro Khanna of California,  will announce the bill during a press conference Wednesday afternoon. 

In a statement ahead of the conference: 

"America is the richest nation in the history of the world, and yet still too many hardworking families are living paycheck to paycheck. Wages for low-income and middle-class families haven't gone up in over 30 years, while massive amounts of wealth have gone to the top one percent. This trend is not sustainable, and will not allow long-term economic success for the United States. It is about time we make sure American workers are given a fair wage for a fair days work."

Meanwhile, across the hall- Senator Sherrod Brown has sponsored his own version of the legislation, which will be the companion to Ryan and Khanna's legislation in the House. 

Brown is expected to introduce his bill to the Senate on Wednesday as well. 

Ahead of that introduction, Sen. Brown released a statement to 21 News saying: 

"Americans are working longer hours, but too many aren't seeing that hard work reflected in their pay. And worse – our tax system can actually tax workers into poverty. That's not how we grow our middle class or our economy. Updating the EITC will make sure all workers can keep more of the money they earned for their work."

Both Brown and Ryan are hoping that even in a Republican led House and Senate, Democrats will rally around the legislation, looking to help families across the nation. 

For the past several years, many states, cities, and municipalities have debated requests to raise the minimum wage to what many call a "livable wage". 

According to the Department of Labor, the federal minimum wage was last set in 2009 at $7.25 an hour. Several states have mandated wages above that level. 

Under Rep. Ryan's legislation income tax credits would benefit families who bring home less than $75,000 a year. A breakdown of how those increases would line up can be seen here: 

3+ children  2 Children 1 Child  No Qualifying Children
Current Income Tax Credit $6,318 $5,616 $3,400 $510
Proposed Income Tax Credit $12,131 $10,783 $6,528 $3,000
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