Key Tax Credits Lift Millions Out of Hunger, Poverty

WASHINGTON, April 14 /PRNewswire-USNewswire/ -- As  American taxpayers prepare to meet the filing deadline tomorrow, it's important to note that taxes will be near the top of the 2010 agenda in Congress as a series of tax cuts and critical tax credits are set to expire this year.

"Tax Day reminds us that there are many competing interests within the tax code, and in the midst of the debate over which tax policies to change and which to renew, the needs of low-income people should not be lost," said Rev. David Beckmann, president of Bread for the World.  

One of the best ways to reduce hunger and poverty in the United States is by protecting and strengthening key tax credits that benefit low-income working families.

The Earned Income Tax Credit (EITC) is one such benefit. It is a program designed to help bridge the gap between low-wage earnings and the costs of meeting basic needs, providing an average benefit of $2,500 for families with children.  Lauded by Republicans and Democrats alike as a powerful poverty-fighting tool, the EITC lifts almost 7 million Americans— including 3.3 million children—above the poverty line.

"We know food assistance to hungry people is vital, but it is not enough. Progress against hunger requires broader economic efforts like tax policy reforms to reduce poverty," said Rev. Beckmann.  

Rev. Beckmann added that low-income families often live on the edge of a financial precipice. The car breaking down, a parent being laid off from her job, a child getting sick—any of these can mean the difference between having enough food and not eating.  Programs like the EITC and the Child Tax Credit play a critical role in keeping low-income working families from falling off that edge.    

In support of these vital tax credits, thousands of churches representing nearly 50 diverse religious denominations throughout the United States are participating in Bread for the World's 2010 Offering of Letters campaign to protect and strengthen these key tax credits. For more information, see www.bread.org/OL2010.  

Bead for the World (www.bread.org) is a collective Christian voice urging our nation's decision makers to end hunger at home and abroad.

SOURCE Bread for the World

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