EARNED INCOME TAX CREDIT BILL CLEARS SENATE PANEL

Legislation sponsored by Senators Shirley Turner and Jim Whelan that would strengthen a proven anti-poverty measure and put money back into the pockets of New Jersey’s working poor was approved Monday by the Senate Budget and Appropriations Committee. The bill would restore the Earned Income Tax Credit (EITC) level to 25 percent of the federal credit amount. Governor Christie reduced the credit to 20 percent in his 2011 budget, but as part of his conditional veto of the minimum wage, proposed restoring the 5 percent cut.  This measure would provide that increase one year ahead of the Governor’s proposed restoration.