Sen. Sherrod BrownSherrod BrownFive things to watch for in Mnuchin hearing Overnight Finance: Smooth path for Commerce pick after hearing | Treasury nominee to defend foreclosure record | GOP tax turmoil Brown asks for FBI files tied to Mnuchin company MORE (D-Ohio) called for an expansion of the Earned Income Tax Credit (EITC), saying it would strengthen the middle class and grow the economy.
“Enhancing the Earned Income Tax Credit should be a bipartisan goal,” Brown said Friday. “The president’s call for action is the first step toward ensuring that Americans who work hard and take responsibility can take home more of their pay each month.”
The ETIC was designed to allow low- and middle-income families to keep more of their paychecks so they don’t end up in poverty.
Brown said ideally Congress would pass his bill along with a federal increase in the minimum wage to help boost the economy.
“As we continue our economic recovery, it’s vital that we pursue policies that promote work and provide ladders of opportunity to more Ohioans,” Brown said. “We can accomplish this by strengthening the EITC and raising the minimum wage for 1.3 million Ohioans.”
Brown’s bill would also index the Child Tax Credit to inflation.