Could a little improvement in a federal income tax credit somewhat reduce individuals’s dependence on predatory payday loans?

That is the hope of the brand new tax bill introduced Wednesday by Sen. Sherrod Brown and Rep. Ro Khanna. Their topline concept is always to massively expand the Earned Income Tax Credit (EITC), which provides low- and americans that are moderate-income subsidy for working. Many attention will concentrate on the price of the legislation, that could run near $1 trillion over a decade, although a precise estimate isn’t available. Continue reading →