How much would the Earned Income Tax Credit increase under Obama's plan?

I think it starts at about $3000 now.

How much would the Earned Income Tax Credit increase under Obama's plan?
From IRS publilcation 17:


For 2008 - as of today-


You may be able to take the credit if:


· You have more than one qualifying child and you earned less than $37,783 ($39,783 if married filing jointly),


· You have one qualifying child and you earned less than $33,241 ($35,241 if married filing jointly), or


· You do not have a qualifying child and you earned less than $12,590 ($14,590 if married filing jointly).





Investment income must be less than $2900





from Obama/Bided website:


Under the Obama-Biden plan, full-time workers making minimum wage would get an EITC benefit up to $555, more than three times greater than the $175 benefit they get today. If the workers are responsibly supporting their children on child support, the Obama-Biden plan would give those workers a benefit of $1,110.





I can't find a definitive answer to your question, but I can't find anything close to where you got the $3000 number unless it is the limit on investment earnings






Reply:Obama has suggested that he thinks congress should vote to increase EIC for a 3rd child. While I don't like the idea of encouraging people to have even more children, I think it might cut down on the fraud right now where taxpayers "loan" their "extra" children's SSNs to people who aren't eligible for EIC.
Reply:Now, it starts at zero and tops out at about $5,000.





It will increase, no matter who is elected president; it is indexed to inflation.






Reply:No numbers have been given. But now it starts at $2, not $3000.
Reply:Depends on what Congress passes!