UH Beat Minimum Wage, Affordable Housing Top Legislative Agendas On Opening Day
“Normally, that income tax credit would be deducted from the amount of taxes someone owes the state. Under this new proposal, if a taxpayer receives a tax credit that exceeds the liable amount, the excess amount will be directly refunded to the taxpayer.
The food and excise tax meanwhile would help taxpayers making less than $50,000 annually, providing them with a credit of $150 per member of the household.
The goal of the tax credits is to support community members who qualify under the low-income classification of ALICE households. ALICE stands for Asset Limited, Income Constrained and Employed.”