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Hoosiers For Responsible Lending Coalition Launches To Address Payday Lending

Hoosiers For Responsible Lending Coalition Launches To Address Payday Lending
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'Priced out of Northwest Indiana': Rents outpacing salaries; low-income Hoosiers hardest hit

'Priced out of Northwest Indiana': Rents outpacing salaries; low-income Hoosiers hardest hit
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The Earned Income Tax Credit: How Does It Work?

The Earned Income Tax Credit: How Does It Work?
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Doug Jaggers/WFYI
Just shy of one million people in Indiana live below the poverty line. One policy designed to help is the earned income tax credit, or EITC. This past legislative session, Indiana increased its earned income tax credit from 9 percent to 10. But how does it work, and what might it mean for working families?
The Basics
The earned income tax credit gives low-income people unrestricted cash to spend on whatever they need. To be eligible, you need to earn money through a job hence the name “earned income” but still live close to the poverty line. For example, a single adult without kids would make just shy of $16,000 a year to qualify. Depending on how many kids you have, the baseline income goes up from there, all the way to $57,414 for a married couple with three or more children. ....

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Hoosier Families Are Already Getting The New Child Tax Credit

Hoosier Families Are Already Getting The New Child Tax Credit
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Hoosier Families Are Already Getting The New Child Tax Credit

Credit Justin Hicks / IPB News
Some Hoosiers received the first monthly installment of a child tax credit Thursday. It’s a one-year-only program from the American Rescue Plan designed to help families emerge from the pandemic.
Families can get an automatic tax credit of at least $3,000 per child. The exact amount depends on their age.
Each child under 6 years old merits a $3,600 credit, while families with children aged 6 to 17 will see $3,000 in credits.
But it’s not all at once: half is paid monthly from now until December, while the other half comes at tax time.
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