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Acronyms (colloquial) | LIFT |
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Legislative history | |
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Livable Incomes for Families Today is
Context
editLIFT is very similar to the Earned Income Tax Credit, which has achieved bipartisan support.[1] It comes in the wake of expansions of state-level EITC systems, including California and Maryland expanding eligibility criteria, Deleware making the credit refundable, and New Jersey increasing the amount.[2]
By 2018, there was widespread recognition that President Trump's Tax Cuts and Jobs Act of 2017 benefited the wealthy substantially more than the average American,[3] and it had become unpopular among Americans.[4][5] LIFT was designed to have the reverse impact of these tax cuts.[1]
Spurred by the success of Bernie Sanders' 2016 presidential campaign, which featured novel policies including free college education and single-payer healthcare, all the major 2020 Democratic presidential candidates offered substantial new social policy proposals.[6] Politico reported that "the mood on the left is freewheeling, collaborative and ambitious" prompting substantial economic proposals such as LIFT which would previously have been "unthinkable".[1]
In 2017 and 2018, a number of Democrats proposed substantially expanding the EITC. In addition to LIFT, Representative Bonnie Watson Coleman (D-NJ) proposed the EITC Modernization Act, Senator Sherrod Brown (D-OH) and Representative Ro Khanna (D-CA) proposed the Grow American Incomes Now (GAIN) Act, and the Economic Security Project proposed the Working Families Tax Credit.[7][8][1][9][10]
Reception
editThe program excludes the poor with no income, which may hurt its popularity with critics on the left.[1] LIFT taps interest in universal basic income, although it is not actually universal.[1]
Influence
editIn October 2018, President Trump proposed a 10% reduction in taxes for middle-class households.[5][3] Ann O'Leary, a policy adviser to the 2016 Hillary Clinton presidential campaign, claims these proposals were a response to LIFT, saying "She got him to pay attention, and he didn’t say 'You're a crazy spending lefty.' He said, 'You're right, and I’m gonna do it better.'"[1]
LIFT contributed toward California governor Gavin Newsom's Working Families Tax Credit, a 2019 proposal to expand California's state-level Earned Income Tax Credit.[8]
See also
editCitations
edit- ^ a b c d e f g Robertson 2018.
- ^ Tsighe 2018.
- ^ a b Gallu 2018.
- ^ Newmyer 2018.
- ^ a b Werner & Paletta 2018.
- ^ Mangu-Ward 2018.
- ^ McAuliffe & McElwee 2018.
- ^ a b Foster & Hoene 2019.
- ^ Montlake 2019.
- ^ Aurilio 2018.
References
edit- Aurilio, Anna (2018). "Working Families Tax Credit policy details". Economic Security Project.
- Foster, Natalie; Hoene, Chris (15 January 2019). "Newsom's bold proposal - a cost-of-living refund to make California affordable". San Francisco Chronicle.
- Gallu, Joshua (20 October 2018). "Trump's Pre-Election Tax-Cut Promise Leaves GOP Leaders Baffled". Bloomberg.com.
- Mangu-Ward, Katherine (10 December 2018). "The New Socialists Didn't Win". Reason.
- McAuliffe, Colin; McElwee, Sean (15 November 2018). "Moving Beyond the Earned-Income Tax Credit". The Nation.
- Montlake, Simon (25 March 2019). "Childless workers often lose out on tax credits. Not with this program". The Christian Science Monitor.
- Newmyer, Tory (23 October 2018). "Trump's latest middle-class tax cut pitch could backfire". Washington Post.
- Robertson, Derek (1 October 2018). "Who's Winning the Democrats' Wonk Primary?". Politico.
- Tsighe, Ariam (Oct 19, 2018). "Tax Reform Friday: Earned Income Tax Credit Expansions, the New Frontier?". SALT Talk Blog.
- Werner, Erica; Paletta, Damian (23 October 2018). "Trump promises to unveil 'resolution' for middle-class tax cut in midterm messaging move". Washington Post.
Further reading
edit- Bell, Kay (22 October 2018). "Kamala Harris' proposed tax credit gets Trump's attention". Don't Mess With Taxes.
- Britschgi, Christian (7 January 2019). "Kamala Harris' Proposed 'Tax Cut' for the Middle Class Manages to Cost Both Money and Jobs". Reason.
- Brown, Stacy M. (25 February 2019). "Will Reparations Become Democrats' Campaign Theme?". The Charleston Chronicle.
- Da Silva, Chantal (22 February 2019). "Kamala Harris, Elizabeth Warren signal support for reparations for slavery". Newsweek.
- Davis, Aidan (24 October 2018). "Shaking up TCJA: How a Proposed New Credit Could Shift Federal Tax Cuts from the Wealthy and Corporations to Working People". Institute on Taxation and Economic Policy.
- Davison, Laura; Browning, Lynnley (24 October 2018). "Kamala Harris Tax Plan Would Cost $2.8 Trillion, Conservative Group Says". Bloomberg.
- Doyle, Karen (12 February 2019). "Kamala Harris' New Tax Plan Creates a Safety Net for Middle-Income Americans - but Will It Work?". GOBankingRates.
- Gleckman, Howard (14 November 2018). "Kamala Harris's Plan Would Cut Taxes For Many But Could Add Trillions To The Debt". Forbes.
- "Harris Proposes Bold Relief for Families Amid Rising Costs of Living". U.S. Senator Kamala Harris of California. 18 October 2018.
- "Harris' First Action of 116th Congress: Re-introducing Tax Cut for Middle Class". U.S. Senator Kamala Harris of California. 3 January 2019. Also published in the Los Angeles Sentinel.
- Hunter-Hart, Monica (18 October 2018). "Kamala Harris Released A Bold Tax Reform Proposal Aimed At Saving You Money". Bustle.
- LeTourneau, Nancy (5 February 2019). "To reduce income inequality, lift up those on the bottom". Washington Monthly.
- Lea, Brittany De (19 October 2018). "Democrat pushes big payouts for working-class Americans". Fox Business.
- Leff, Benjamin M. (2019). "EITC For All: A Universal Basic Income Compromise Proposal". Washington & Lee Journal of Civil Rights & Social Justice. doi:10.2139/ssrn.3338468. ISSN 1556-5068.
- Lowrey, Annie (18 October 2018). "Kamala Harris's Trump-Size Tax Plan". The Atlantic.
- Luhby, Tami (28 January 2019). "Harris tax plan focuses on middle class relief, not the ultra-rich". CNN.
- Maag, Elaine (18 October 2018). "Senator Harris Seeks To Raise Incomes Using A New Tax Credit". Tax Policy Center. Also published by Forbes.
- Matthews, Dylan (30 January 2019). "5 anti-poverty plans from 2020 Democratic presidential contenders, explained". Vox.
- Rainey, Michael (19 October 2018). "Kamala Harris' Trillion-Dollar Tax Plan". The Fiscal Times.
- Rainey, Michael (25 October 2018). "Putting a Price Tag on Sen. Kamala Harris' Working-Class Tax Cut". The Fiscal Times.
- Rosenberg, Joshua (1 January 2019). "Federal Tax Legislation Issues To Watch In 2019". Law360.
- Sawhill, Isabel V.; Pulliam, Christopher (15 January 2019). "Lots of plans to boost tax credits: which is best?". Brookings.
- "Senator Harris' LIFT the Middle Class Act (November 2018)". Tax Policy Center. 14 November 2018.
- Snively, Ian (18 March 2019). "Kamala Harris's LIFT Act Could Bring Down the Spirit of the Middle Class". Townhall.
- The Cook Center on Social Equity (18 October 2018). "Senator Kamala D. Harris Proposes Bold Relief for Families Amid Rising Costs of Living".
- Ting, Eric (19 October 2018). "Kamala Harris proposes bill to repeal GOP tax cuts, give money to working class families". SFGate. Hearst.
- "U.S. Senator Kamala D. Harris Re-introduces the LIFT (Livable Incomes for Families Today) the Middle Class Act – A Tax Cut for the Middle Class". Sierra Sun Times. 3 January 2019.
- Vance, Lawrence M. (23 January 2019). "Kamala Harris Must Be a Republican". LewRockwell.com.
- Washington Post Editorial Board (26 November 2018). "How Democrats can rewrite the tax code to be more egalitarian - and responsible". Washington Post.
- Wright, Sarafina (18 October 2018). "Senator Harris Proposes Bold Tax Breaks for the Middle Class". Ebony.
- "'People In This Country Do Not Start From The Same Place'". The Postglob. 22 February 2019.
External links
edit- https://www.congress.gov/bill/115th-congress/senate-bill/3712
- https://www.congress.gov/bill/116th-congress/senate-bill/4
Category:Personal taxes in the United States
Category:Tax credits
Category:Tax terms
Category:Taxation and redistribution
Category:United States proposed federal taxation legislation
Category:Welfare in the United States