New Jersey was awarded funding in 2020 from the State EITC Rapid Response Fund to supports efforts to expand the state EITC to younger workers.
In June 2020, New Jersey Governor Phil Murphy (D) signed legislation to lower the age of eligibility for the state’s Earned Income Tax Credit (EITC) from 25 to 21. Learn more about the legislation here.
New Jersey is the third state in 2020 to expand their credit beyond the limits of the federal EITC to make it more accessible to all workers. During the summer, California and Colorado expanded their credits to filers using Individual Taxpayer Identification Numbers (ITINs).
Economic Opportunity Funders and the EITC Funders Network administer and oversee the State EITC Rapid Response, Campaign and Policy Development Fund and the Federal EITC Campaign Fund to advance tax fairness and economic opportunity for low-income workers and families through the promotion, protection and expansion of the federal and state EITCs. The four funds – together known as the EITC Pooled Fund – are guided by an advisory group, supported by five national funders and administered by EOF and the EITC Funders Network in partnership with the Center on Budget and Policy Priorities and The Hatcher Group.