OPED–Embrace Tax Policies That Encourage Savings

Tax season is here. For many Texas families, the substantial tax refund they will get back is vital to their overall budget.

The Earned Income Tax Credit the most successful income supplement for working families, lifting millions of Americans, including about 765,000 Texans, out of poverty. Low-income children in families that receive the tax credit go farther in school and, as a result, work more and earn more as adults. Last tax season, 2.6 million Texans received the credit, claiming $6.9 billion, or approximately $2,600 per filer. Because tax refunds represent the largest single payment many low-income families receive all year, tax time creates an important opportunity for families to save for a more secure future.

You can read the full piece on the Austin American-Statesman website.

At the Center for Public Policy Priorities, we believe in a Texas that offers everyone the chance to compete and succeed in life. We envision a Texas where everyone is healthy, well-educated, and financially secure. We want the best Texas - a proud state that sets the bar nationally by expanding opportunity for all. CPPP is an independent public policy organization that uses data and analysis to advocate for solutions that enable Texans of all backgrounds to reach their full potential. We dare Texas to be the best state for hard-working people and their families.

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