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Celebrating 50 Years of the Earned Income Tax Credit

Summary by ITEP
This week, we celebrate 50 years of the federal Earned Income Tax Credit (EITC) and the impact it’s had on millions of workers and families. Over time, the credit has grown at both the federal and state levels. In 2023 alone, the latest year of available data, the federal EITC alongside the refundable portion of the Child Tax Credit lifted 6.4 million people and 3.4 million children out of poverty. In 1975, after years of debate over guaranteed …

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Celebrating 50 Years of the Earned Income Tax Credit

This week, we celebrate 50 years of the federal Earned Income Tax Credit (EITC) and the impact it’s had on millions of workers and families. Over time, the credit has grown at both the federal and state levels. In 2023 alone, the latest year of available data, the federal EITC alongside the refundable portion of the Child Tax Credit lifted 6.4 million people and 3.4 million children out of poverty. In 1975, after years of debate over guaranteed …

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CPA Practice AdvisorCPA Practice Advisor

Happy 50th Birthday to the Earned Income Tax Credit

A component of the Tax Reduction Act, the EITC was signed into law by President Gerald Ford on March 29, 1975, and has become one of the federal government's largest anti-poverty programs.

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ITEP broke the news in on Friday, March 28, 2025.
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