Kennedy proposal would have extended Earned Income Tax Credit to working childless adults by maintaining estate tax
Washington, D.C. – (RealEstateRama) — Congressman Joe Kennedy III released the following statement today after House Republicans rejected his amendment to extend the Earned Income Tax Credit to working childless adults by simply maintaining the estate tax.
“This proposal offered my GOP colleagues a simple choice: wealthy heirs or working Americans? By rejecting an effort to bring real, immediate tax relief to millions of American workers, they doubled down on a tax plan that unapologetically prioritizes the preservation of wealth and the inflation of corporate profits.”
According to the Center on Budget and Policy Priorities, the federal tax code currently taxes roughly 7.5 million childless adults into or deeper into poverty, while only 5,460 individuals with estates valued at more than $5.5 million will owe any estate tax this year.
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For Immediate Release:
November 15, 2017
Emily Kaufman (617) 332-3333
Dan Black (202) 225-5931