Neal Introduces Pro-Worker, Pro-Family Tax Relief Legislation
Washington, DC, June 18, 2019
Today, Ways and Means Committee Chairman Richard E. Neal (D-MA) introduced the Economic Mobility Act of 2019, legislation that helps families afford child care, encourages work, stimulates local economies, and provides significant tax relief for working- and middle-class families, including those who live in Puerto Rico and other U.S. Territories.
“When Republicans passed their tax law in 2017, they prioritized big businesses and missed significant opportunities to make the tax code fairer for middle-class workers and vulnerable families,” said Chairman Neal. “The Economic Mobility Act does the opposite, putting hardworking Americans first and making it easier for families to afford childcare and other day-to-day necessities in an increasingly expensive world.”
Specifically, for two years, the legislation:
Additionally, the bill permanently provides matching funds for the EITC and CTC in Puerto Rico and other U.S. Territories.
“Unlike the Republican tax law, this substantial legislation’s primary aim is to help workers and struggling families get ahead,” added Chairman Neal. “We must seize this opportunity to combat poverty and provide real relief for folks who are barely getting by. When today’s families and workers escape financial hardship, it sets the stage for a stronger workforce and more vibrant economy in the future.”
The Economic Mobility Act also repeals a punitive provision in the Republican tax law that imposed a tax on exempt organizations – such as religious institutions, charities, universities, and hospitals – that provide transportation and parking benefits to their employees.