Guest Column: Tax Credit Working In The Naugatuck Valley

FILERebuilding our middle class by keeping more money in the hands of working families — that’s the success story of Connecticut’s Earned Income Tax credit, established last May by the General Assembly and used by 70,000 residents, as of last count. 

The EITC provides a financial incentive for low income working families, which stimulates the economy by encouraging spending in local communities. 

Though the Earned Income Tax Credit’s main purpose is to help lower income families save more, a significant portion is spent on groceries, clothing, medical expenses, paying off bills, car repairs and other basic needs — a real investment in the state’s consumer economy.

This initial response to our state’s EITC justifies Connecticut catching up with neighboring states who also offer a state credit along with the federal credit. 

Nearly 200,000 households in Connecticut will receive an average credit of about $540 during the 2012 tax season. 

The average income of EITC filers is less than $20,000. Nearly $50 million in credits have been approved so far with final numbers expected to top $100 million in credits. Connecticut’s EITC is not a handout, but a reward for working hard and an economic stimulus for local communities.

Working families in the Lower Naugatuck Valley who need help filing their tax return can contact a Volunteer Income Tax Assistance (VITA) Center.

There are four centers in the valley. They are located at TEAM, Inc or Derby Neck Library in Derby and Plumb Memorial Library and Huntington Branch Library in Shelton.

Rep. Gentile is in her 4th term serving the 104th House District in Ansonia and Derby.

The Valley Indy publishes guest columns with a 500-word limit. We don’t necessarily agree with the opinions expressed.

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