Tag: tax credit

Airlines Launch Effort Backing Green Jet Fuel Tax Credit that Could Raise Food Prices for Americans

Georgia Star News Staff
Plane at gate

A coalition of major airlines has formed a group supporting a tax credit pushed by President Joe Biden that experts say could jack up food prices.

More than 40 companies, including Boeing, American Airlines, JetBlue and United as well as ethanol trade groups, are pushing the federal government to “expand” existing tax credits for “sustainable aviation fuel” (SAF) and to pass legislation to increase the fuel’s availability, Axios reported. Corn-based ethanol is a common component in SAF and experts previously told the Daily Caller News Foundation that increasing the demand for corn by incentivizing its use in jet fuel could indirectly raise food costs for Americans.

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Analysis Shows Education Vouchers Saved Georgia Taxpayers Money

The Center Square

Georgia’s school choice programs saved taxpayers at least $605 million in fiscal year 2018, an updated analysis by EdChoice found.

EdChoice examined the fiscal effects of 40 private educational choice programs in 19 states and the District of Columbia. The nonprofit found the Georgia Special Needs Scholarship Program and the Georgia Qualified Education Expense Tax Credit saved taxpayers between $605 million and $1.1 billion in fiscal 2018.

Each taxpayer saved money on the sum they would have paid in taxes for each student enrolled in the program to attend public schools. The programs saved each taxpayer between $4,355 to $8,013 per student, according to the report.

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Connecticut Governor Lamont Directs Increase in Earned Income Tax Credit to Benefit Lower-Income Taxpayers

The Center Square
Ned Lamont

Nearly 200,000 households in Connecticut will benefit from an increase in the state’s Earned Income Tax Credit, Gov. Ned Lamont said.

The governor said in a news release that the Department of Revenue Services will increase the 2020 Earned Income Tax Credit from 23% to 41.5% as directed by the state budget.

Lamont said the increase will “provide needed economic support to low-to-moderate income working individuals and families” who faced negative economic impacts amid the COVID-19 pandemic.

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Democrats Laden $3.5 Trillion Budget Bill with ‘Green New Deal’ Handouts

Georgia Star News Staff
Field of sunflowers with several wind turbines in the distance

Democrats have inserted numerous provisions and subsidy programs into their $3.5 trillion budget that would benefit green energy companies and speed the transition to renewables.

The Build Back Better Act would invest an estimated $295 billion of taxpayer money into a variety of clean energy programs in what would amount to the most sweeping climate effort passed by Congress, according to a House Committee on Energy and Commerce report. That price tag doesn’t factor in the other costly measures approved by the House Ways and Means, Agriculture, Natural Resources, Oversight and Transportation committees last month.

“This bill is crammed with green welfare subsidies, specifically for corporations and the wealthy,” House Ways and Means Ranking Member Kevin Brady told the Daily Caller News Foundation in an interview.

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AOC Urges Illegal Immigrant Parents of Children Born in the US to Register for Biden’s Child Care Tax Credit Payments

Georgia Star News Staff

Democratic New York Rep. Alexandria Ocasio-Cortez urged illegal immigrants who are parents to children born in the U.S. to register for President Joe Biden’s child care tax credit payments on Thursday, video shows.

Parents and guardians will receive checks of $250 to $300 per child monthly until the end of 2021 including undocumented adults who care for children with valid Social Security numbers, according to Ocasio-Cortez.

“These centers are also offering help to undocumented folks with eligible children,” Ocasio-Cortez said. “So any child with a social security number is eligible. Do not count yourself out … if a parent and guardian is undocumented.”

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Hawley Cites ‘Culture War’ in Proposal for Monthly Payments to Families with Children

The Center Square
Josh Hawley

Rising Republican star U.S. Rep. Josh Hawley, R-Mo., is sponsoring a new measure that would give unprecedented tax cuts to parents with children, and now he is saying his bill is on the front line of the nation’s “culture war.”

The plan in question would give a fully refundable tax credit of $12,000 for married parents and $6,000 for single parents who have children under the age of 13.

“Starting a family and raising children should not be a privilege only reserved for the wealthy,” Hawley said. “Millions of working people want to start a family and would like to care for their children at home, but current policies do not respect these preferences. American families should be supported, no matter how they choose to care for their kids.”

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House Approves Georgia Adoption Tax Credit Increase

The Center Square

The Georgia House approved a bill Monday that would increase foster care adoption tax credits in the state.

House Bill 114 increases the annual tax incentive for adopting a foster child from $2,000 to $6,000. Proponents of the bill, including Gov. Brian Kemp, hope the legislation encourages more Georgians to adopt foster children. 

The bill cleared the House, 158-0, without debate.

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