OKPOLICY.ORG
The EITC (Earned Income Tax Credit) is a refundable tax credit for working families that has been shown to reduce poverty, encourage work, and help local economies. Oklahoma’s state EITC, enacted in 2001, is set at 5% of the federal EITC and provided an average credit of about $95 to some 280,000 Oklahoma households in 2005.
This issue brief from OK Policy provides full information on the Earned Income Tax Credit, including breakdowns on the number of EITC filers and the value of the credit for each county and each legislative district in Oklahoma. The brief makes the argument that boosting the state’s EITC would provide targeted help for families that are struggling to deal with the rapidly rising cost of basic necessities.
