The rising cost of living and housing means too many families live on the financial brink: 57% of Americans don’t have enough cash on hand to cover a $500 unforeseen expense.
A Cost-of-Living Refund (also called a Working Families Tax Credit) puts more money back in the pockets of the working and middle-class people who need it most. Couples earning up to $90,000 receive as much as $8000 a year, and single workers receive half that amount if they earn less than $50,000. Recipients can also receive their credit monthly.
What it is
A Cost-of-Living Refund is a bold modernization of the federal and state Earned Income Tax Credits (EITC). It puts cash into working people's pockets and gives them the tools to solve their own problems.
What it does
Provides a tax credit of up to $8000 per year, or $666 per month.
Benefits families earning up to $90,000 depending on family type.
Includes family caregivers and students.
Expands eligibility to younger workers age 18+ and older workers age 65+.
Raises taxes on the very wealthy to pay for this benefit.
Outcome
Reaches low-income AND middle-class families—up to half of U.S. households.
Helps people of color in particular, as they tend to face higher rates of poverty.
Fights rising inequality.
Complements a $15 minimum wage.
Provides financial stability to the 40% of workers now in the gig economy, part-time jobs, or other contingent work.
Share on social media
#CostofLivingRefund
Take action
Tell your friends
If you believe in a guaranteed income and you believe the Cost-of-Living Refund could help low-income and middle-class families, please share!
The #CostofLivingRefund will help working people out of poverty, give them a cushion of financial stability and help them face the rising cost of living.
The #CostofLivingRefund can provide peace of mind for hard-working Americans.
Caregivers play an essential role in our communities, but their work often goes unrecognized and unrewarded. It is time to change that. #CostofLivingRefund
If we want to invest in the future, we need tax cuts for students, not billionaires. #CostofLivingRefund
Donate
Donate to the Economic Security Project, an organization advocating for an income floor for all Americans.
Share your story with us
How would a Cost-of-Living Refund help you and your family?