CAAB

Investing in People, Strengthening Communities

Remarks by Rich Petersen, CAAB's Executive Director, at the DC EITC Campaign Event on April 10, 2018

"The EITC is one of the most effective policy tools for lifting Americans out of poverty. 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," said Rich Petersen, CAAB's Executive Director.

Remarks by Rich Petersen, CAAB's Executive Director, at the DC EITC Campaign Event on April 10, 2018 

Good evening. I am Rich Petersen, Executive Director of Capital Area Asset Builders (CAAB). Thank you Dana for hosting this event and for the great work that UPO has been doing for 50 years.

The EITC is one of the most effective policy tools for lifting Americans out of poverty. 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.

CAAB is proud to manage the DC EITC Campaign. The 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 DC EITC Campaign aims 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.  

In 2017, over 65,000 low- and moderate-income working District residents received over $180 million in the EITC at the federal and DC levels. More work still needs to be done to ensure all eligible District residents know about the EITC and claim it. CAAB estimates that as many as 20,000 lower-wage DC residents-primarily residents of Wards 4, 5, 7 and 8-are still not claiming the EITC thus not receiving about $40 million in federal tax credits. 

We need to inform, educate and empower our community on the EITC. It is the goal of CAAB to ensure all DC residents in all 8 wards are aware of the EITC and do not overlook this valuable tax credit. 

We look forward to working with multiple partners in DC to promote awareness of the EITC. 

We are very grateful for the great support provided by Mayor Bowser’s Administration, the DC Department of Insurance, Securities and Banking, Deputy Mayor Brian Kenner, Deputy Mayor Courtney Snowden, Citi Community Development and United Way of the National Capital Area. 

Lastly, I would like to thank the non-profit organizations that provide free tax preparation services throughout DC, especially Community Tax Aid, UPO, AARP Foundation Tax Aide, DC Federal Credit Union and Catholic Charities. Thank you to these organizations and the amazing tax preparation volunteers, approximately 10,000 low-income Washingtonians get their taxes for free in a high quality and trusted way. This translates into over $2 million in savings for the District. 

Now, it’s my pleasure to introduce Ms. Jaye Lewis. Ms. Lewis is a proud Washingtonian who has benefited from the EITC and free tax preparation services. Ms Lewis, please come forward. Thank you for sharing your story. 

Thank you.


About the DC EITC Campaign 

The CAAB-managed DC EITC Campaign, is a citywide, cross-sector initiative that provides access to information on the EITC and connects Washingtonians with free tax preparation services throughout the District.

The DC EITC Campaign is made possible through the support from the Government of the District of Columbia, Citi Community Development and United Way of the National Capital Area.

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.

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How to give

Now, more than ever, non-profits like Capital Area Asset Builders (CAAB) need your help. Please support CAAB as we continue to help DC residents manage and/or improve their financial situation during these difficult times. If you can't afford to give a monetary gift, please visit our Amazon Wish List where you can choose from a variety of items that CAAB needs in order to better serve our community.

or send a check or money order to
Capital Area Asset Builders (CAAB)
c/o Joseph Leitmann-Santa Cruz, CEO & Executive Director
1100 H Street NW, Suite 200
Washington, DC 20005