Bringing More Federal Dollars to DC Low-Income Families through the EITC
In 2015, over 54,000 residents of the District of Columbia received about $126 million in the Earned Income Tax Credit (EITC). However, thousands of eligible DC residents are not taking advantage of the EITC. CAAB launches the 2016 DC EITC Campaign to raise awareness of this valuable tax credit.
Washington, DC – January 19, 2016 – Capital Area Asset Builders (CAAB) is pleased to announce the launch of the 2016 DC EITC Campaign. The DC EITC Campaign is a citywide, cross-sector initiative that promotes economic security and asset building for low- and moderate-income individuals and families by providing access to information on the Earned Income Tax Credit (EITC), free tax preparation services and capacity building opportunities throughout Washington, DC.
“The EITC is one of the most effective policy tools for lifting Americans out of poverty,” said Rich Petersen, CAAB’s Executive Director. “It is our objective that all eligible DC residents are aware of the EITC and claim it. The EITC can make a real difference to low- and moderate-income DC individuals and families, particularly when they’re struggling in this recovering economy.”
In 2015, per the IRS, over 54,000 low- and moderate-income working District residents received about $126 Million in EITC. “In the District of Columbia, the EITC puts money back in the pockets of working individuals and families, strengthens neighborhood businesses, and boosts the local economy,” said Brian Kenner, DC’s Deputy Mayor for Planning and Economic Development. “Claiming the EITC can enable DC residents save for their financial future and start a pathway to the middle class.”
More work still needs to be done to ensure all eligible District residents know about the EITC and claim it. It is estimated that as many as 11,000 lower-wage DC residents are still not claiming the EITC. “We need to inform, educate and empower our community on the EITC,” said Joseph Leitmann-Santa Cruz, CAAB’s Director of External Relations and Manager of the DC EITC Campaign. “It is the goal of CAAB to ensure DC residents do not overlook this valuable tax credit. We look forward to working with multiple partners in DC to promote awareness of the EITC. CAAB is interested in partnering with community-based organizations, private sector employers, faith based organizations, public sector agencies and other stakeholders to raise awareness of the EITC and other key asset-building initiatives.”
The goals of the DC EITC Campaign are to: 1) Promote awareness of the Federal and DC Earned Income Tax Credit to ensure that eligible workers know how to claim the credits; 2) Educate taxpayers about numerous Federal and DC tax benefits; 3) Provide opportunities for free tax preparation for qualified DC residents; and, 4) Connect taxpayers with programs and services to improve financial stability.
The DC EITC Campaign receives financial and technical support from the Government of the District of Columbia, United Way of the National Capital Area, Citi Community Development as well as other business and non-profit organizations in Washington, DC.
For more information on the DC EITC Campaign please contact Joseph Leitmann-Santa Cruz, CAAB’s Director of External Relations and Manager of the DC EITC Campaign, by phone at (202) 419-1440 x 102 or by email at jleitmann-santacruz@caab.org.
About Capital Area Asset Builders
Capital Area Asset Builders (CAAB) is a non-profit organization whose mission is to empower low- and moderate-income residents of the Greater DC Area to take control of their finances, increase their savings, and build wealth for a better future.
Connect with CAAB via our social media platforms:
- Twitter: @CAAB_GreaterDC
- Facebook: https://www.facebook.com/CapitalAreaAssetBuilders
- LinkedIn: https://www.linkedin.com/company/capital-area-asset-builders
