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Article: Use tax credit as an incentive for marriage.
- Article from:
- Insight on the News
- Article date:
- August 28, 1995
- Author:
CopyrightCOPYRIGHT 1995 News World Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Congress seems poised to give families a tax cut this year. The most likely vehicle is the $500-per-child tax credit included in the House GOP's "Contract With America." But there is another way for the tax system to help families defray the costs of child-rearing. Why not a tax credit for parents?
That's what Rep. Thomas E. Petri, a Wisconsin Republican, suggested in testimony before a joint hearing of the Ways and Means subcommittees on Oversight and Human Resources in June. Specifically, Petri suggested replacing a portion of the current earned-income tax credit with a $1,000-per-parent tax credit. At the outset, I must say that there is a certain attraction, ...