Earned Income Tax Credit bill moves

Jun 24, 2019

The Marianas Legislature levied a 100 percent tax on the Earned Income Tax Credit in 1998, a law I have recommended be repealed so that a federal cover-over of the credit would go to taxpayers, not the Commonwealth government. To date, the Legislature has taken no action on relieving low-income, working families of this tax burden. In the meantime, I cosponsored this week new legislation by New Jersey Representative Bill Pascrell, whose seat on the House Ways and Means Committee puts him in a position to move the bill. H.R. 3307 would reimburse mirror tax jurisdictions, such as the Marianas, 75 percent of the EITC cost. Pascrell added the language of his bill to H.R. 3300, the Economic Mobility Act of 2019, when the Ways and Means Committee marked up the bill on Thursday and reported it to the House for passage.