“The federal credit has become one of the government’s most powerful antipoverty tools. It also improves progressivity, a virtue that’s lacking in many state tax systems, including Missouri’s.
“It can help offset the really regressive taxes, like sales taxes and excise taxes, which hit low- and middle-income families hardest,” says Meg Wiehe, state tax policy director at the Institute on Taxation and Economic Policy.
The federal credit has become one of the government’s most powerful antipoverty tools. It also improves progressivity, a virtue that’s lacking in many state tax systems, including Missouri’s.
“It can help offset the really regressive taxes, like sales taxes and excise taxes, which hit low- and middle-income families hardest,” says Meg Wiehe, state tax policy director at the Institute on Taxation and Economic Policy.”
