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Letter: Earned-income tax credit would boost economy

Published March 9, 2014 10:19 pm

This is an archived article that was published on sltrib.com in 2014, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

If you had the opportunity to generate $21 million in local economic activity across Utah, cut taxes for low-wage working Utahns, and address child poverty to boot, would you take it?

That's an offer on the table now for Utah's state lawmakers. The House recently passed legislation to create the Working Individuals and Families Credit, which would ensure that low- to moderate-income working Utahns retain more of their wages through a modest tax credit. By building on the federal Earned Income Tax Credit, one of the most effective policies at lifting working families and children out of poverty, nearly 1 in 5 Utah taxpayers would qualify for tax relief.

If passed, the tax credit would be a boon for businesses and communities across Utah. Workers getting the credit would spend it at local businesses to pay for basic needs like groceries and medical expenses, putting an estimated $21 million back into local economies. And small business owners who file their taxes individually could qualify for the credit themselves.

A policy idea that helps small businesses, boosts local economies, and reduces child poverty is a good deal for Utah. We hope the Utah Senate agrees.

Tracy S. Gruber

Voices for Utah Children

Salt Lake City

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