May
27
2009
The Recovery Act Comes to Virginia
Posted by Carolyn Spohrer at 10:55 AM Press Releases
As part of the $9 billion that will come to Virginia, the Recovery Act's tax credits are designed to quickly put money directly in the hands of Virginia families, giving the states economy a much needed economic boost.
Three credits that you will want to note:
- Making Work Pay Credit: A new refundable income tax credit of up to $400 per worker in 2009
- Federal Child Tax Credit: expanded eligibility for the $1,000 credit
- Federal Earned Income Tax Credit: The EITC has been temporarily expanded for working families with three or more children
Read the report from the Commonwealth Institute....(see page 5 for details on the tax credits)
