Dear President Biden and Members of Congress,
We applaud the temporary improvements made to the Earned Income Tax Credit (EITC) and the Child Tax Credit in the American Rescue Plan. One of the major strengths of these policies is how much they lift up families, our economy, and specifically women of color who are facing structural inequality, including 3.4 million Latinas, and 2 million Black women who will directly benefit. The improvements to the Child Tax Credit alone cut child poverty in half! We need to keep that momentum going by making these expansions permanent immediately.
And we can’t stop there. Billionaires and corporations must pay their fair share. The super wealthy and mega-corporations are flourishing more than ever, while working families are struggling with unemployment, lost wages, and the ravages of a public health crisis. Rather than cut supports that families turn to when times are tough, we should raise revenue to invest in our shared success by making the super-wealthy pay fair share in taxes. Our elected leaders can start by overturning the harmful Tax Cuts and Jobs Act provisions for wealthy individuals and large, profitable corporations, and enacting more equitable tax policies that include, but are not limited to, a wealth tax on the richest Americans and returning the estate tax to 2009 levels.
Women are the backbone of the economy but our tax code and policies have left them behind, time and time again. We need large-scale public investments in the care infrastructure that makes all other work possible including childcare, paid family and medical leave, a pathway to citizenship for immigrant frontline workers, investments in caregiving options for people with disabilities and aging adults, and permanent expansions of the EITC and Child Tax Credit. And in order to pay for these vital programs, and boost our economy, it is time for the mega-wealthy to pay their fair share. Women deserve economic security and the opportunity to create a brighter future for ourselves and our families. This isn’t just the right thing to do, it’s how we boost our economy for everyone.