Assessing the Economic Impacts of the Earned Income Tax Credit on Five Economically Depressed Counties in Southwest Washington State
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An economic impact analysis of the earned income tax credit for tax year 2013 using the IMPLAN input output model demonstrates that $36,200,241 dollars in EITC expenditures from recipients creates 267 jobs, $9,360,085 dollars in labor income and $25,793,443 in total economic output in five southwest Washington counties. Other findings demonstrate that a public outreach campaign to focus EITC expenditures on the local economy could significantly increase the economic impact of the EITC. Also refunding the Washington State EITC will eliminate 10% of the tax levied on EITC benefits.
- MA in Policy Studies