Newly released reports from the Census Bureau’s Current Population Survey (CPS) show that median household income increased in the United States between 2015 and 2016, and the poverty rate and the percent of people without health insurance declined in the same period. Median household income nationally in 2016 was $59,039, an increase from 2015 of...
Post
Earned Income Tax Credit Lifts Families Out of Poverty
Enacted in 1975, the federal Earned Income Tax Credit (EITC) has encouraged and rewarded work over welfare by supplementing working-poor families’ income through the tax system. The amount of the credit is graduated according to family income and composition. For example, a married couple filing jointly with two children and an earned income of $15,000...