Last Friday, Congress passed a $1.8 trillion funding and tax package. House and Senate leaders were able to compromise and implement a November agreement, which eased some of the spending sequester cuts.
The package included improving and making permanent the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC), two of JCPA’s Confronting Poverty Initiative's priority policies. These combined tax breaks lift about 16 million Americans, including 8 million children, out of poverty (or help them come close) each year. Further, the bill included extending tax incentives for renewable energy that will help build a modern energy system and reduce carbon pollution, a priority for the JCPA's environmental initiative, the Coalition on the Environment and Jewish Life.
The parallel appropriations bill provided funding for the Supplemental Nutrition Program for Women, Infants, and Children (WIC), which supports millions of expectant mothers and young children. Further, the legislation invested in critical opportunity programs for children, including Headstart, Preschool Development Block Grants, and Childcare and Development Block grants.
With respect to foreign affairs, the funding bill provided support for our allies through foreign assistance programs, allocated additional funding for refugees and displaced persons, and resourced defense programs such as tunnel detection and anti-missile systems in Israel that can help protect against terrorism and save lives. Members of Congress have now headed home for recess, with the House and Senate back in session by January 11, 2016.
Read JCPA’s Press release on the Bipartisan Appropriations and Tax Compromise
Read how the new tax deal may benefit you