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Press Releases
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Congress Should Reject Outrageous Tax Bill |
Washington, D.C. The Children's Defense Fund (CDF) today urged Congress to reject H.R. 1308— legislation extending tax breaks enacted in 2001 and 2003. Although the cost of this misguided bill is likely to exceed $140 billion, it fails to fund the child tax credit to those families making less than $10,700 this year. A parent working full-time at minimum wage earns a yearly salary of $10,300.
"Congress is making a mockery of the concept of tax equity and hurting children in need," said Marian Wright Edelman, President of the Children's Defense Fund. "This callous policy must be abandoned before Congress once again provides more unjust giveaways while neglecting the needs of low-income families."
The Tax Policy Center recently found that more than two-thirds (68 percent) of the benefits of the 2001 and 2003 tax extensions would go to the wealthiest 20 percent of households in 2005, while less than 0.1 percent would go to the 20 percent of households with the lowest incomes.
Skewed tax breaks for the wealthy has been a hallmark of this Congress. Since passing a massive tax bill in May 2003 that denied 12 million children in low-income working families an accelerated child tax credit, the House or Senate have passed numerous tax breaks that shower wealthy individuals and corporate special interests with tax giveaways. Now Congress is poised to pass yet another tax scheme for the wealthy without making the child tax credit fully refundable for low-income families. "Congress has the opportunity to lift an additional one million children out of poverty by making the credit fully refundable. It is unconscionable to let this opportunity pass," said Edelman.
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The mission of the Children's Defense Fund is to Leave No Child Behind and to ensure every child a Healthy Start, a Head Start, a Fair Start, a Safe Start, and a Moral Start in life and successful passage to adulthood with the help of caring families and communities. CDF provides a strong, effective voice for all the children of America who cannot vote, lobby, or speak for themselves. We pay particular attention to the needs of poor and minority children and those with disabilities. CDF educates the nation about the needs of children and encourages preventive investment before they get sick, into trouble, drop out of school, or suffer family breakdown. CDF began in 1973 and is a private, nonprofit organization supported by foundation and corporate grants and individual donations. We have never taken government funds. |
