Income on its own, however, is not enough to guarantee families a path to the middle class. Savings are critical in equipping families with the tools they need to weather unexpected hardships such as an illness, loss of job, or even something as routine as car repair.
In the five years since its inception, DACA has proven to be an effective strategy for boosting beneficiaries’ wages, employment opportunities, and education. While there are several shortcomings to this policy, DACA has been a good first step in addressing our outdated immigration system.
The new two-year state budget passed by lawmakers included another package of tax cuts that will further limit the amount of revenue available for public investments.
New analysis from the Institute on Taxation and Economic Policy provides detailed information about the ways in which this tax plan will benefit the richest 1 percent of taxpayers in North Carolina and shareholders of multinational corporations.
Inaction in the effort to identify a pathway for young immigrants to achieve legal status to work, learn and participate fully in communities will cause well-documented economic harm to the growth, revenue and earnings in the country and North Carolina.
Unless lawmakers reverse course, close to one million working families in North Carolina will claim the state Earned Income Tax Credit (EITC) for the last time this tax season, bringing pain to individual families and local economies.
North Carolina’s low- and middle-income taxpayers will be impacted disproportionally by the new tax law, as more than 1 million people will see a tax hike by 2027, due to phase-in of various tax changes that mostly benefit the rich.
An emerging body of research finds that children of immigrants are experiencing trauma as a result of the threat of deportation and family separation as well as the direct experience of raids, deportation proceedings and parent removal from the United States.
A mismanaged and underfunded 2020 Census poses great risks for North Carolina as our population has grown and our demographics have changed significantly since the last Census in 2010. In an era when data-driven and evidence-based policymaking has gained momentum at the state level, the lack of effective implementation of one of the major data sources available to policymakers and practitioners will undermine not just research endeavors but programs and practices across the country.
At this point in the state’s failed tax-cut experiment, it is time to return to an approach that prioritizes investments in people and places over tax cuts for corporations and the wealthy. Evidence shows it will not only strengthen the connection to prosperity for more people and places but will also grow the economy in more inclusive and sustainable ways.
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