“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.
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.”