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Acronyms (colloquial) | LIFT |
---|---|
Legislative history | |
|
Livable Incomes for Families Today is
LIFT is very similar to the Earned Income Tax Credit, which has achieved bipartisan support. [1] It comes in the wake of expansions of state-level EITC systems, including California and Maryland expanding eligibility criteria, Deleware making the credit refundable, and New Jersey increasing the amount. [2]
By 2018, there was widespread recognition that President Trump's Tax Cuts and Jobs Act of 2017 benefited the wealthy substantially more than the average American, [3] and it had become unpopular among Americans. [4] [5] LIFT was designed to have the reverse impact of these tax cuts. [1]
Spurred by the success of Bernie Sanders' 2016 presidential campaign, which featured novel policies including free college education and single-payer healthcare, all the major 2020 Democratic presidential candidates offered substantial new social policy proposals. [6] Politico reported that "the mood on the left is freewheeling, collaborative and ambitious" prompting substantial economic proposals such as LIFT which would previously have been " unthinkable". [1]
In 2017 and 2018, a number of Democrats proposed substantially expanding the EITC. In addition to LIFT, Representative Bonnie Watson Coleman (D-NJ) proposed the EITC Modernization Act, Senator Sherrod Brown (D-OH) and Representative Ro Khanna (D-CA) proposed the Grow American Incomes Now (GAIN) Act, and the Economic Security Project proposed the Working Families Tax Credit. [7] [8] [1] [9] [10]
The program excludes the poor with no income, which may hurt its popularity with critics on the left. [1] LIFT taps interest in universal basic income, although it is not actually universal. [1]
In October 2018, President Trump proposed a 10% reduction in taxes for middle-class households. [5] [3] Ann O'Leary, a policy adviser to the 2016 Hillary Clinton presidential campaign, claims these proposals were a response to LIFT, saying "She got him to pay attention, and he didn’t say 'You're a crazy spending lefty.' He said, 'You're right, and I’m gonna do it better.'" [1]
LIFT contributed toward California governor Gavin Newsom's Working Families Tax Credit, a 2019 proposal to expand California's state-level Earned Income Tax Credit. [8]
Category:Personal taxes in the United States
Category:Tax credits
Category:Tax terms
Category:Taxation and redistribution
Category:United States proposed federal taxation legislation
Category:Welfare in the United States
![]() | This is a
draft article. It is a work in progress
open to editing by
anyone. Please ensure
core content policies are met before publishing it as a
live Wikipedia article at
Livable Incomes for Families Today. Find sources:
Google (
books ·
news ·
scholar ·
free images ·
WP refs) ·
FENS ·
JSTOR ·
TWL
Last edited by
Citation bot (
talk |
contribs) 3 years ago. (
Update) |
For draft subjects, see Template:Draft article#Usage.
![]() | |
Acronyms (colloquial) | LIFT |
---|---|
Legislative history | |
|
Livable Incomes for Families Today is
LIFT is very similar to the Earned Income Tax Credit, which has achieved bipartisan support. [1] It comes in the wake of expansions of state-level EITC systems, including California and Maryland expanding eligibility criteria, Deleware making the credit refundable, and New Jersey increasing the amount. [2]
By 2018, there was widespread recognition that President Trump's Tax Cuts and Jobs Act of 2017 benefited the wealthy substantially more than the average American, [3] and it had become unpopular among Americans. [4] [5] LIFT was designed to have the reverse impact of these tax cuts. [1]
Spurred by the success of Bernie Sanders' 2016 presidential campaign, which featured novel policies including free college education and single-payer healthcare, all the major 2020 Democratic presidential candidates offered substantial new social policy proposals. [6] Politico reported that "the mood on the left is freewheeling, collaborative and ambitious" prompting substantial economic proposals such as LIFT which would previously have been " unthinkable". [1]
In 2017 and 2018, a number of Democrats proposed substantially expanding the EITC. In addition to LIFT, Representative Bonnie Watson Coleman (D-NJ) proposed the EITC Modernization Act, Senator Sherrod Brown (D-OH) and Representative Ro Khanna (D-CA) proposed the Grow American Incomes Now (GAIN) Act, and the Economic Security Project proposed the Working Families Tax Credit. [7] [8] [1] [9] [10]
The program excludes the poor with no income, which may hurt its popularity with critics on the left. [1] LIFT taps interest in universal basic income, although it is not actually universal. [1]
In October 2018, President Trump proposed a 10% reduction in taxes for middle-class households. [5] [3] Ann O'Leary, a policy adviser to the 2016 Hillary Clinton presidential campaign, claims these proposals were a response to LIFT, saying "She got him to pay attention, and he didn’t say 'You're a crazy spending lefty.' He said, 'You're right, and I’m gonna do it better.'" [1]
LIFT contributed toward California governor Gavin Newsom's Working Families Tax Credit, a 2019 proposal to expand California's state-level Earned Income Tax Credit. [8]
Category:Personal taxes in the United States
Category:Tax credits
Category:Tax terms
Category:Taxation and redistribution
Category:United States proposed federal taxation legislation
Category:Welfare in the United States