Lawmakers sponsor bill aimed at helping working families, indivi - WFMJ.com News weather sports for Youngstown-Warren Ohio

Lawmakers sponsor bill aimed at helping working families, individuals

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Democratic Congressman Tim Ryan has co-sponsored a bill that he hopes can become a part of tax reform. 

The proposal roughly doubles the maximum Earned Income Tax Credit available for working families and expands the number of people who are eligible to receive it.

"We need tax reform in the United States that can actually help lift up families that are working hard, playing by the rules and that just need a little boost and that's what this does," Ryan said.

Ohio Senator Sherrod Brown, who is also a Democrat, introduced the companion legislation in the Senate.

The maximum tax credit available for families with three or more children would go up to $12,131 compared to the current amount of $6,318. Workers without children would receive up to $3,000, a nearly six fold increase from $510.

Another change is the cap of how much money a family can make in order to be eligible. The maximum income for a worker without a child would go up to $37,113 annually from the current maximum of $15,010. For families with three or more children that cap would go up to $75,940 a year compared to the current amount of $48,340.

This issue is a personal one for Ryan.

"I know growing up my mother accessed the Earned Income Tax Credit. So for single moms that are out there that are trying to make ends meet, this is an opportunity for them to get a little bit more money in their pockets," he said.

Brown says Republican Senator Mitch McConnell needs to bring both sides together.

"I'm hopeful we do a tax reform. The President is bringing some people from both parties to the White House to talk about this and I think that if Senator McConnell, the Republican leader, tries to do it behind closed doors with Wall Street lobbyists and others it won't work for the country. But if he brings in both parties and has the President sit down with us and leaders in both houses, in both parties, I think we can have real tax reform that will help the economy grow and will be fair to the middle class," Brown said.

According to a news release from Ryan's office, nearly half of American households would pay no federal individual income tax in 2017 compared to the current 44 percent.
 

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