Sens. Carper, Kaufman Announce 300,000 Families See Bigger Paychecks
New tax credit, from recent economic recovery package, goes into effect today
WASHINGTON – More than 300,000 Delaware families will start to find more money in their paychecks because of a new tax credit, according to estimates provided by the Obama Administration. The economic recovery package, which Sens. Tom Carper and Ted Kaufman (both D-Del.) supported, featured a “Making Work Pay” tax credit that will provide working individuals with up to $400 each, and families $800 each.
“Working families have been hit especially hard by this crisis and it’s past time they saw an increase in real dollars – exactly what this credit provides,” said Sens. Carper and Kaufman. “Starting today, 95 percent of hard-working Delaware families will see larger paychecks, on average about $65 per month more, according to Treasury Department estimates. For some it means help with monthly bills, more groceries each week, or just a little extra savings for the kids. It’s not a cure-all, but it is real help when our families need it most.”
The Treasury Department estimates that Delawareans will receive a total of $200 million from this tax credit. The credit should kick in automatically for filers who don not hold multiple jobs or are not self-employed.
The senators urge anyone with questions to contact the IRS; information is available at: http://www.irs.gov/newsroom/article/0,,id=204447,00.html. Their offices also stand ready to assist Delawareans.