Buffett Backs EITC Expansion and Child Tax Credit to Lift Working Families Out of Poverty

Warren Buffett advocates expanding the Earned Income Tax Credit (EITC) to support working families, saying the rich are not responsible for income inequality

Buffett argues the EITC incentivizes work without distorting market forces, promoting employment more effectively than raising minimum wage

While 2024 EITC adjustments are incremental, the expanded Child Tax Credit could lift 400,000 kids out of poverty, alleviating conditions for 3 million more

A mother with 2 kids earning $15,000/year would get a $3,600 Child Tax Credit under the proposal, up from $1,875 currently

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