Tax Filing Season Brings Smaller Credits to 140,000 Working Families

April 5, 2012

More than 140,000 Wisconsin families (with over 340,000 children) will get smaller tax refunds from the state as a result of cuts to the Earned Income Tax Credit (EITC) made by legislators in the 2011-13 state budget, according to a new analysis by the Wisconsin Budget Project. While the Legislature was cutting $56 million from the EITC – effectively raising taxes on low-income working families – businesses and higher-income residents were receiving about $210 million in new tax breaks. Read the full press release.