From time to time my office distributes press releases and written statements on state and national issues, debate in the Senate, and legislation that I am working on. For your convenience, I post these documents on my site for your review.
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Senate Adopts Sessions’s Amendment On Earned Income Tax Credit Study
Wednesday, January 24, 2007
WASHINGTON–The Senate Tuesday adopted by unanimous consent an amendment offered by U.S. Sen. Jeff Sessions (R-AL) that mandates the U.S. Treasury Department to study the impact of potential changes to the existing earned income tax credit (EITC). Under the amendment to the Senate minimum wage bill, the Secretary of the Treasury must report to Congress on the costs and barriers to workers and businesses if the EITC is administered to all beneficiaries through their workplaces.
Under current law, eligible workers have the option of receiving EITC payments through their employers or in an annual lump sum, although most choose the lump sum.
Sessions asserts that providing the EITC to eligible workers through their regular paychecks rather than in a lump sum would provide more incentive to continue working and increase wages by nearly $1 per hour.
“I believe that tying the EITC to the paycheck of all beneficiaries would put money immediately in the pockets of low-paid, working Americans, helping them meet their most pressing needs,” Sessions said.
The Senate is currently debating its minimum wage proposal, and a vote could come later this week.
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