The Center for Budget and Policy Priorities, a national think tank, estimates that 750,000 New Jerseyans would benefit if Congress adopts President Barack Obama’s 2015 budget proposal to make the Earned Income Tax Credit and the Child Tax Credit permanent and make it available to childless workers.
Nearly 600,000 New Jersey households took advantage of the EITC in 2011, and 464,265 families received the Child Tax Credit that year, according to the center. That resulted in 214,000 New Jerseyans being lifted out of poverty, according to the CBPP, including 110,000 children. Among them were military families (17,000 in 2010) and working mothers (470,000 in 2010). The tax credit also put about $1.3 billion into the economy, the center reported.
If the EITC were extended to childless workers, 350,000 New Jerseyans would become eligible.