Low-Income Families Diving Off the Fiscal Cliff
The two most important pieces of the 2001-2011 tax cuts for low-income families were the reduced refundability threshold of the Child Tax Credit (CTC) and the 2 percentage point cut in payroll taxes. The American Taxpayer Relief Act of 2012 (ATRA) extended the former for 5 years and dropped the latter entirely. This, in sharp [...]