Washington, DC (December 20, 2022) The following is a statement by Gary Cunningham , President and CEO of Prosperity Now , on the release of the Senate omnibus bill:
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Washington, DC (December 20, 2022) The following is a statement by Gary Cunningham , President and CEO of Prosperity Now , on the release of the Senate omnibus bill:
“Prosperity Now is grateful to the Senate for increasing the Volunteer Income Tax Assistance (VITA) program’s funding to $40 million for fiscal year 2023.
“For over half a century, the VITA program has provided free tax preparation services to lower-income Americans. Built on public-private partnerships and led by the Internal Revenue Service (IRS), the VITA program trains and certifies volunteers to help low- and moderate-income families who cannot afford the often exorbitant fees for professional tax services but who still need assistance to accurately complete their taxes. Each year, thousands of IRS-certified volunteers—working at sites in every state—assist individuals and households of limited means, persons with disabilities, and those with limited English proficiency in accurately fulfilling their tax obligations. These volunteers also ensure that families can claim and keep the full amount of any tax credits that they have earned and are eligible for, including critical tax credits such as the Child Tax Credit and the Earned Income Tax Credit.
“The omnibus package also includes critical federal investments that help expand access to homeownership and affordable housing, create quality jobs, and support small businesses. The bill provides the U.S. Department of Housing and Urban Development with $61.8 billion in response to an increasingly urgent housing crisis.
“Still, there is more to be done to help families. We need a Child Tax Credit that is fully refundable so that the lowest income families, the families who need it the most, can receive the full credit. Currently, nearly half of all Black and Latinx children are excluded from the full benefit because their families do not owe enough federal income tax to qualify. Without action, the Child Tax Credit gives wealthier families a tax season boost while leaving out families who need the support the most.
“We commend leaders in the Senate for their support for the VITA program and will keep on working with Congress and the Biden Administration to address the unmet needs of BIPOC households, including pushing for an expansion of the Child Tax Credit and increasing funding for affordable housing programs. Prosperity Now will continue to fight to close the racial wealth divide and systemically provide families and children with the resources they need to build financial security and succeed. Three years into a global pandemic, the time to build back for justice is now – we cannot wait any longer to reimagine an economy that works for all of us.”
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Since 1979, Prosperity Now (formerly CFED) has been a persistent voice championing economic opportunity, innovating outside of and beyond existing systems to build power for all communities. We advance racial and ethnic economic justice by investing in bold new ideas, and we work deeply at both the grassroots and national level to impact the entire ecosystem. By setting goals for our economy and following through with targeted approaches based on need, we are equipped to drive forward and cement big structural solutions. Learn more at www.prosperitynow.org .
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