Parents Give Away Child Tax Credit to Counter Bush Tax Agenda

Press Advisory
For Immediate Release – July 24, 2003
Contact: Betsy Leondar-Wright
(617) 423-2148 x113

Parents Give Away Child Tax Credit to Counter Bush Tax Agenda

“Sure, I could use this $400 check. But then I think about how the broader tax cut will affect me in other ways. My daughter will lose her school librarian and her art teacher. We're going to wait longer for the bus. The municipal pool is going to be closed this summer. You know, at some point, as a taxpayer I have to say, 'Yes, it's my money, but I got something for my tax dollars, and now it's going away.'"

– Chuck Collins
Parent and Program Director at United for a Fair Economy

Ironically, some of the child tax credit checks that President Bush will mail to parents starting today will go to efforts to oppose Bush’s “tax breaks for the rich” agenda.

United for a Fair Economy has launched a “Let’s REALLY Leave No Child Behind” petition drive and pledge campaign (online at www.FairEconomy.org/childcredit) to oppose the tax break’s windfalls for the rich as well as the exclusion of low-wage working parents from the tax credit.

Some parents are giving their checks to the Fund for Tax Fairness, a pool of money at the Funding Exchange that has given grants to organizations advocating more progressive taxation. Others are forwarding part of their child tax credit to local schools, libraries, and human service organizations that have been hit hard by budget cuts.

Over the next four years, the bottom 60 percent of taxpayers will receive just 8 percent of the 2003 tax cut, while the top one percent will take home 36 percent. And, despite the President’s “leave no child behind” rhetoric, 12 million children in low-income families will not qualify for the child tax credits.

“This year, Bush is sending an average tax break of $93,000 to those who earn over $1 million. But don’t expect him to hold a press conference to announce it. In fact, Bush has cut taxes on the wealthy so much that the government will have to borrow $570 billion to make ends meet this year. That's $7,800 in additional national debt for every American child. Instead of checks, Bush should be sending out invoices.”

– Chris Hartman
Research Director at United for a Fair Economy

United for a Fair Economy (UFE) is a national non-profit organization that spotlights the dangers of growing inequality of income and wealth and advocates shared prosperity.

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