The “Tax Cut” Bait and Switch

Plans for more income tax cuts are threatening tax benefits that are important for hundred of thousands of Oklahoma families, according to a new Oklahoma Policy Institute issue brief. The at-risk credits include the state Earned Income Tax Credit (EITC), Sales Tax Relief Credit, and Child Tax Credit/Child Care Tax Credit. The state EITC and the Child Tax Credit help about one out of every four Oklahoma families, and the Sales Tax Relief Credit goes to one-third of all Oklahomans. The brief, titled “The ‘Tax Cut’ Bait and Switch: How average Oklahomans could be collateral damage in the assault on tax credits,” explains how these broad-based credits work and why Oklahoma should preserve them.

You can download the full issue brief at https://okpolicy.org/files/Bait-and-Switch.pdf.

See a blog post discussing the brief at https://okpolicy.org/the-tax-cut-bait-and-switch.

Download a spreadsheet showing who benefits from the state Earned Income Tax Credit by legislative district at https://okpolicy.org/files/OklahomaEITC.xls