Up to $2,465 in Earned Income Tax Credit Will Be Given to Americans Soon, Gov. Lamont Says!

Connecticut Gov. Ned Lamont proposes to increase the Earned Income Tax Credit (EITC) from 30.5 percent to 40 percent.

Gov. Lamont proposes to increase Earned Income Tax Credit. (Photo: Top Tax Defenders)

Increasing Earned Income Tax Credit

The tax season has already started and state officials are encouraging their residents to file their Earned Income Tax as soon as possible. It is important that residents in the state should file their 2022 Earned Income Tax to ensure funds to the different programs of the state.

Connecticut Gov. Ned Lamont announced on Monday that he wanted to increase the Earned Income Tax Credit from 30 percent to 40 percent. He also said that this budget proposal will provide an additional $44.6 million in state tax credits to around 211,675 low-income households.

Gov. Lamont said, “Numerous studies have shown that the EITC is one of the best anti-poverty tools we can use because it encourages work, boosts economic stability, and uplifts generations to come. Ultimately, this tax credit helps improve entire communities because these dollars are being invested right back into our local economy through groceries, transportation, clothing, rent, utilities, and other necessary expenses. The EITC encourages work and boosts economic stability, and I think it’s about time that we increase it.”

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Eligibility Requirements

In a published article in NBC Connecticut, federal income eligibility requirements for 2022 are the following:

• No dependents: $16,480 for individuals and $22,610 for married filing jointly
• One dependent: $43,492 for individuals and $49,622 for married filing jointly
• Two dependents: $49,399 for individuals and $55,529 for married filing jointly
• Three dependents: $53,057 for individuals and $59,187 for married filing jointly

Moreover, the Governor’s office said that the amount of each household’s credit is need-tested and depends on the size of its federal credit.

Furthermore, an amount of up to $2, 465 state tax credit will be given to each household in Connecticut if the Earned Income Tax Credit will be raised to 40 percent.

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