Restoring the Earned Income Tax Credit is a must this session - Oklahoma Policy Institute
In Oklahoma’s tax code, there are multiple tax breaks for high-income individuals and businesses. But just three tax credits are targeted at low-income Oklahomans, and one of those - the Earned Income Tax Credit (EITC) – was slashed in 2016 to help balance the books during a severe budget crisis. This cut resulted in more than 200,000 Oklahoma families losing some, or all, of the value of their EITC. Statewide, low and middle-income working families lost nearly $28 million due to the cut. That’s an average of $121 per family, and many low-wage families lost even more.
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