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Tax Analysts to Congress: Consider Helping Low-Income Families in Year-End Budget

Rog Cogswell / Creative Commons

As the calendar draws to a close, federal officials in Washington are trying to close out the books. And, that’s creating a whirlwind of jockeying for dollars.

It’s an end-of-year ritual in Washington: closing out the budget, a spending spree to make sure more dollars are allocated next year. And this year it comes on the heels of a historic series of budget shutdowns.

Bill Bergman at the budget watchdog group Truth in Accounting says the recent history of brinksmanship probably means another shutdown is looming.

“Paid vacations for many federal government employees," says Bergman. "It’s a sign that the underlying fiscal pressures are intensifying.”

Intensifying for restaurants and retail stores. They’re asking for tax breaks. On the other side of the equation are people asking for more government money.

Chris Wodicka at the Commonwealth Institute says members of the Virginia delegation should consider investing in child tax credits and earned-income tax credits. 

“As Congress debates tax breaks for the restaurant and retail industries, they have a key opportunity to do something for working families with low incomes, especially those with children,” Wodicka explains.

Over the summer, the Ways and Means Committee passed a bill known as the Economic Mobility Act, a bill the Commonwealth Institute says would help working people with low incomes. How much of that bill ends up in the end-of-year tax negotiations is now up for discussion in Washington.

This report, provided by Virginia Public Radio, was made possible with support from the Virginia Education Association.

Michael Pope is an author and journalist who lives in Old Town Alexandria.