Press conference tomorrow: Who will have a better 2013, moms or millionaires?

 

Press conference tomorrows highlights benefits to women, children from tax credits for working families
Just 1.4 percent of NC residents benefit from Bush tax cuts on income over $250,000 and .2 percent of NC estates benefit from estate tax changes made in 2009, while more than 500,000 families benefit from improvements to EITC, Child Tax Credit and more

RALEIGH (Oct. 23, 2012) – In the coming months, Congress faces a choice about who to help: Moms or Millionaires.

The evidence is clear: to really help families in North Carolina – especially women and children – federal lawmakers should defend tax credits for working families and oppose efforts to eliminate these tax credits to pay for additional tax breaks for the wealthiest families in the state.

At a press conference in Raleigh’s Nash Square this Wednesday, speakers will explain the impacts of federal tax credits on North Carolina’s families and review findings of a report released earlier this week.

The new report, co-released by the Center on Budget and Policy Priorities and the NC Budget & Tax Center, shows that while more than 500,000 families and 1.1 million children benefit from the tax credit improvements to the Earned Income Tax Credit and Child Tax Credit alone, just .2 percent of households benefit from the estate tax changes that were made in 2009 and are set to expire and just 1.4 percent of North Carolinians benefit from the additional tax cut on income over $250,000.

Yet some in Congress are proposing extending the special tax breaks for these high earners in 2013, while allowing the tax credits for the thousands of working moms and families to expire. 

WHO: Speakers from the Budget & Tax Center, MomsRising and others

WHEN/WHERE: Tuesday, Oct. 23, 10 a.m. at the NC Justice Center’s Large Conference Room
224 S. Dawson St., Raleigh, NC 27611 (Across from Nash Square, next to the fire station)

WHAT: A press conference highlighting the particular benefits of certain tax credits for women and children – and to demonstrate strong support in NC for congressional action to extend the federal improvements that have been made to the EITC, Child Tax Credit and American Opportunity Tax Credit. 

North Carolina’s federal delegation faces an important decision during the upcoming lame duck session: they must decide what to do about a host of tax policies including improvements to tax credits for working families, the estate tax changes and additional tax breaks on income over $250,000. The press event and recent analysis are designed to show that more tax cuts for the richest North Carolinians will help far fewer people than protecting improvements to tax cuts for working families.

FOR MORE INFORMATION CONTACT: Alexandra Forter Sirota, Director, NC Budget and Tax Center, alexandra@ncjustice.org, 919-861-1468; Jeff Shaw, Director of Communications, NC Justice Center, jeff@ncjustice.org, 503.551.3615.

 

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