skip to main content
skip to newscasts

Monday, December 23, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

Trump dismisses the notion that Musk is in charge; KY public schools: Large employers who help meet community needs; A giant policy question mark lies before smaller, independent farms; Historic Iowa gravesites at risk of being forgotten.

view newscast page
play newscast audioPlay

Congress passes a last-minute budget stopgap. Trump's second-term tariffs could harm farmers, and future budget cuts could reduce much-needed federal programs.

view newscast page
play newscast audioPlay

Rural folks could soon be shut out of loans for natural disasters if Project 2025 has its way, Taos, New Mexico weighs options for its housing shortage, and the top states providing America's Christmas trees revealed.

Tax Reforms Aim to Boost Assistance for Working Families

play audio
Play

Friday, May 14, 2021   

DENVER - Children's advocates are supporting a pair of bills introduced this week by state Democrats to update Colorado's tax code, expand the state's Earned Income Tax Credit and fully fund the Child Tax Credit.

Sarah Barnes, manager of special policy initiatives with the Colorado Children's Campaign, said the proposals would help the state's families of color hit hardest by the pandemic, due to systemic inequities and barriers, recover from its economic fallout.

She added tax reforms that prioritize kids can help bring tens of thousands of Colorado children out of poverty.

"The earned income tax credit and the child tax credit are two of the most effective tools we have to fight child poverty," said Barnes. "So those two tax credits taken together lift more kids out of poverty than any other program we have available."

House Bill 1311 would double Colorado's Earned Income Tax Credit, from 10% to 20% of the federal credit. The measure would also provide funding for the state's Child Tax Credit, passed in 2013, for the first time.

Alongside companion bill HB 1312, the proposals aim to pay for the tax credits by removing tax loopholes for the state's wealthiest residents and corporations - a move critics warn could blunt the state's economic recovery.

The bill's proponents say the reforms will make the tax code fairer for the families and small businesses that drive Colorado's economy.

Barnes noted getting additional money into the pockets of families with kids will help them pay for necessities like rent, food, and child care. She said money invested in kids now also benefits the economy in the long term.

"And as those kids grow up and become adults," said Barnes, "they are also more likely to go on to college and they're more likely to be able to work more and earn more in adulthood, because of the money coming into their families when they're kids."

A recent survey found more than 70% of Colorado voters support eliminating outdated tax exemptions and credits for corporations and wealthy individuals.

The legislation targets tax loopholes that the state auditor's office found are not performing as intended - by creating jobs or growing the economy, or benefiting most taxpayers - including severance tax credits and exemptions for oil, gas and coal production.


get more stories like this via email
more stories
The Federal Trade Commission reported older adults are less likely to report scams than those ages 18-59. Because the majority of fraud cases are not reported, the commission estimates national losses last year alone may be as high as $61.5 billion. (fizkes/Adobe Stock)

Social Issues

play sound

The holidays are the busiest time of the year for many people, including scammers. Oregonians lost $136 million to holiday shopping scams last year…


Environment

play sound

Across Pennsylvania and other northern U.S. states, climate change -- from burning oil, coal and methane gas -- is increasing the number of winter …

Social Issues

play sound

The Internal Revenue Service will be in the crosshairs in the second Trump administration, as the president-elect's recently announced choice to run …


Millions of families across the U.S. depend on home-based child care, with over 750,000 children enrolled in these programs, often because parents consider them more flexible than traditional child care centers. (Adobe Stock)

Social Issues

play sound

Alabama is part of a national program aimed at diversifying early childhood education. The Enriching Public Pre-K Through Inclusion of Family Child …

Social Issues

play sound

West Virginia schools' reliance on zero-tolerance policies are driving more kids into the juvenile justice system - with lifelong consequences…

Critics argue Florida's book removals limit access to important information. At the same time, state officials insist they ensure only age-appropriate materials remain in schools, rejecting claims of outright bans as a "hoax." (Adobe Stock)

Social Issues

play sound

Recent changes to Florida's education laws have removed information on consent, contraceptives and prenatal development from many health lessons at …

Health and Wellness

play sound

If you find yourself in a less than festive mood this holiday season, you are not alone. In Wisconsin, the recent school shooting tragedy in Madison …

Environment

play sound

By Jennifer Oldham for Civil Eats.Broadcast version by Eric Galatas for Colorado News Connection reporting for the Solutions Journalism Network-Public…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021