New Jersey Revised Statutes § 54a:4-6 - Findings, Declarations Relative To An Earned Income Tax Credit

54A:4-6. Findings, declarations relative to an earned income tax credit
1.The Legislature finds and declares that:

a.Since its enactment in 1975, the federal earned income tax credit has received bipartisan support and has proven to be one of the nation's most effective anti-poverty programs for working families by encouraging work, supplementing earnings and lifting nearly five million people out of poverty each year, approximately half of them children;

b.The federal earned income tax credit has contributed to a significant increase in labor force participation among New Jersey families;

c.A New Jersey Earned Income Tax Credit will build upon the federal program by cutting taxes for families struggling to provide for their children, reducing child poverty, supporting welfare-to-work efforts and making New Jersey a better place to live, work and raise a family;

d.Over the last six years, New Jersey's unemployment rate has fallen to its lowest rate in nearly a decade, and a significant number of the State's families who were dependent on welfare have made the transition from public assistance to work, often beginning in low-wage or entry-level positions; and

e.A New Jersey Earned Income Tax Credit can further promote work and job retention by supplementing the incomes of nearly 280,000 low-income working families as they move up the career ladder and remain independent from public assistance.

L.2000,c.80,s.1.


Section: Previous  54a-3a-20  54a-3a-21  54a-3a-22  54a-4-1  54a-4-2  54a-4-4  54a-4-5  54a-4-6  54a-4-7  54a-4-8  54a-4-9  54a-4-10  54a-4-11  54a-4-12  54a-4-12a  Next

Last modified: October 11, 2016