CFA Urges Protecting the Earned Income Tax Credit and Child Tax Credit from Government Seizure

CFA joined over 100 organizations on a letter to Treasury Secretary Yellen that expressed concern that the Treasury Department’s practice of reducing or eliminating EITC and CTC payments made in tax refunds to families who have past-due student loans and other government debts. The groups argues that reducing these critical funds undermines the social safety net and threatens to push millions of children into poverty. The groups urged the Treasury Department to use existing authority to gather data about the scope of the problem and to waive offsets where authorized, and to work with the Administration and Congress to develop more complete solutions.