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Rewarding Work: the Impact of the Earned Income Tax Credit in Greater Chicago

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Rewarding Work: the Impact of the Earned Income Tax Credit in Greater Chicago Center on Urban & Metropolitan Policy Rewarding Work: The Impact of the Earned Income Tax Credit in Greater Chicago Alan Berube and Benjamin Forman “...working Findings This year the federal Earned Income Tax Credit (EITC) will provide over $30 billion to families live 18.4 million low-income taxpayers across the U.S., making it the largest federal aid pro- gram for working poor families. An analysis of the spatial distribution of the EITC in the Chicago region shows that1: throughout ■ In 1998, the Chicago region bene- ■ The percentages of families earning fited from nearly three-quarters of a the EITC in the Chicago region and the Chicago billion dollars in federal EITC the city of Chicago were similar to refunds. Nearly 60 percent of the those for the ten largest metropoli- region’s $737 million in EITC tan areas and their central cities. The metropolitan refunds—$430 million—was earned by concentration of EITC dollars in the families living in the city of Chicago, city of Chicago was also comparable to much larger than the city’s share of the the median among cities in the ten area, and the region’s population (33 percent). largest metro areas. ■ Nearly half a million (470,000) low- ■ Transforming Illinois’ state EITC EITC is an income working families in the into a refundable tax credit would Chicago region earned an EITC in contribute millions of dollars to the 1998. About one-quarter of all taxpay- budgets of low-income working important source ers living in the city of Chicago earned families in the Chicago region. A an EITC. Neighborhoods with the refundable Illinois state EITC set at highest rates of EITC receipt also had 20 percent of the federal credit could of income for high rates of electronically filed provide nearly $150 million to lower- returns, suggesting that many low- income neighborhoods throughout the income taxpayers may be turning to Chicago region, and relieve the burden these families high-priced tax preparers in order to of state income taxes on hundreds of receive their refunds quickly. thousands of poor Illinois families. and their I. Introduction jurisdictions.” espite a great deal of public and are working but not earning more than policy interest in working poor roughly 200 percent of the federal poverty families, particularly in the after- level. Therefore, this survey uses EITC math of welfare reform, there is receipt as a measure of the number and loca- Dlittle understanding of who the working poor tion of low-income working residents in a are and where they live. Families may claim metropolitan area. This survey of Greater an Earned Income Tax Credit (EITC) if they Chicago is an extension of our work looking Cen November 2001 • The Brookings Institution • EITC Series 1 at the value of the EITC to the 100 largest metropolitan areas around the Figure 1: Earned Income Tax Credit country.2 Using IRS data, this Chicago Number of Families and Amount of Credit survey maps the geographic distribu- 1975 – 2001 tion of the EITC to help policymakers in the Chicago area better understand 35 where its working poor live. This sur- Number of Families (millions) vey confirms that low-income working 30 Total Amount of Credit (billions) families live throughout the Chicago 25 metropolitan area, and that the EITC is an important source of income for 20 these families and their jurisdictions. 15 II. What Is the EITC? 10 he EITC is a refundable income tax credit intended to 5 make work pay for low- income families. Congress 0 Tenacted the credit in 1975 in response 1975 1980 1985 1990 1995 2000 to high unemployment and the burden that social security taxes imposed on low-wage workers. Substantial increases in the EITC were approved by Congress several times during the Figure 2: Size of the EITC, By Earned Income and late 1980s and early 1990s. Between Number of Dependents, 2001 1984 and 1996, the amount of dollars transferred to working families $4,500 through the credit increased by more $4,008 than ten times (Figure 1). In 1998, $4,000 No Children over 19 million families claimed more $3,500 One Child than $30 billion in EITCs—an average $3,000 Two Children of $1,567 per family. The EITC is now $2,428 the largest federal aid program tar- $2,500 geted to the working poor. Credit $2,000 A. How Does the EITC Work? $1,500 $1,000 Eligibility The EITC is available to families $500 $364 whose incomes range from below the $0 federal poverty line to roughly double $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 the poverty line (see Figure 2). Fami- lies with two children can earn up to Income $4,008 in EITC in 2001; families with one child are eligible for a credit of up to $2,428. Very low-income workers with no children are eligible for a ents) before declining with each addi- The data analyzed in this survey are small EITC. tional dollar of income (see Figure 2). for tax year 1998. In this year, the The size of the credit increases as For example, a household with two maximum credit available to families earnings increase, up to a point, and children and earnings between with two children was about $3,700, then remains constant at a maximum $10,020 and $13,090 is eligible for a and the maximum credit for families level (based on the number of depend- $4,008 refund for tax year 2001. with one child was about $2,250. 2 November 2001 • The Brookings Institution • EITC Series CENTER ON URBAN & METROPOLITAN POLICY Applying Workers must file a tax return and Table 1: Who Can Get the Credit? complete schedule EIC in order to claim the credit. Taxpayers whom the Occupation Avg. Annual Salary in the Chicago Region IRS believes are eligible for the EITC are sent notices if they do not com- Security Guards $19,250 plete schedule EIC. These taxpayers Janitors $20,200 may file amended returns, but low- Bus Drivers $21,440 income workers who are otherwise Butchers $24,270 exempt from filing will not receive any Locksmiths $26,840 notice unless they complete a tax Graphic Designers $24,190 return. Employers can also make the Source: Bureau of Labor Statistics Advance EITC available to their employees, allowing eligible workers to earn a portion of their credit with each Lifts Families Out of Poverty In Illinois, during the late 1990s, paycheck. Nearly all families, however, The EITC’s success in moving families the average before-tax income of a receive the credit in their tax refund out of poverty is largely attributable to family in the bottom fifth of the check at the end of the year. recent increases in the size of the income distribution was around credit and the number of working fam- $14,700. Adjusted for inflation, these B. Who Actually Claims the EITC? ilies eligible for the credit.6 In 1993, families were actually earning about In tax year 1998, half of all EITC dol- the EITC helped lift 2.1 million peo- 1 percent less than they were during lars went to families who earned less ple above the poverty line. By 1999, the late 1970s. At the same time, fami- than $12,000.3 The remainder went to that figure had more than doubled to lies in the top fifth of the distribution families earning up to $29,000. 4.7 million people. In just that one had average before-tax income of Larger percentages of eligible fami- year, the credit lifted 2.5 million chil- nearly $141,100, 26 percent more lies claim the EITC compared to dren out of poverty—more than any than during the late 1970s.10 Research traditional social welfare programs other federal aid program.7 suggests that the EITC, by supple- (TANF, Food Stamps, Medicaid). menting the wages of low-income Nevertheless, studies have found that Increases Work working families, has curbed growth in many eligible households, particularly By restricting eligibility to families national after-tax income inequality.11 families with very low incomes, former with earnings, the EITC promotes welfare recipients, and those with work. In 1984, prior to large increases Builds Wealth and Purchasing language barriers, and are not filing in the EITC and changes in other fed- Power for the EITC.4 Additional research eral transfer programs, 73 percent of EITC dollars represent additional also shows that many of those who single mothers with children worked at income coming into the community, are eligible have, at best, a vague some point during the year. By 1996, increasing families’ purchasing power understanding of how the EITC works. 81 percent of single mothers were and helping them build assets for the A recent study showed that minorities, working at some point during the year. future. The one study to investigate particularly low-income Hispanic One study found that three-fifths of how families use the EITC found that households, are less likely to know this increase in workforce participa- over half of recipients planned to about the EITC than low-income non- tion by single mothers was attributable spend their refunds on investments Hispanic parents of any race.5 to increases in the EITC.8 Researchers like paying for tuition or other educa- have also shown that the EITC tional expenses, increasing their C. Why Is the EITC Important? increases work for those who previ- access to jobs through car repairs and A series of recent studies have pro- ously received welfare.9 other transportation improvements, vided strong evidence that the EITC moving to a new neighborhood, or put- significantly reduces poverty and Supplements Wages ting money into a savings account.
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