On the recordJanuary 31, 2011
this past Friday marked the annual Earned- Income Tax Credit Awareness Day. I rise to recognize the success and importance of this vital tax benefit for hard-working Americans. As our country continues its steady recovery from the worst economic conditions hard-working American men and women have faced since the Great Depression, families need financial relief and many people need jobs. As we renew our efforts to promote job creation, increase access to credit for small businesses, and restore confidence and stability to markets, we should not forget that we already have what one President once called ``the best anti-poverty, the best pro-family, the best job- creation measure to come out of Congress.'' President Ronald Reagan was talking about the earned-income tax credit. Since 1975, the EITC has helped to offset the impact of Social Security taxes for low- and moderate-income individuals. Nearly 26 million taxpayers across the country received the EITC when they filed their tax returns last year. In Hawaii alone, over 100,000 low- and middle-income workers received an average of nearly $2,000 for this tremendous tax benefit. These vital EITC resources help families pay for essentials such as food, housing, clothing, transportation, and education expenses. The earned-income tax credit is more important now than ever before.
