Iowa LULAC supports efforts to keep taxes low for Hispanic families

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Iowa LULAC supports efforts to keep taxes low for Hispanic families

 

Dec. 26, 2012

DES MOINES - The Iowa League of United Latin American Citizens on Wednesday announced its support for keeping middle-class tax cuts in place in an attempt to avoid tax increases that could negatively affect Latino families.

Currently, President Barack Obama and Republican members of Congress are negotiating a plan that would impact jobs, taxes on various income brackets and the deficit. Much of the discussion stems from how to reduce income taxes and for whom and by how much while reducing the nation’s deficit.

“Iowa LULAC wants to remind the President, our members of Congress and others that there is more at stake here than numbers,” said Joe Enriquez Henry, state director of Iowa LULAC. “The negative consequences of allowing tax cuts to expire for middle-class Latino and Hispanic families could be devastating.”

Should tax cuts on middle class families be allowed to expire, Latino families, whose median income for a family of four is $43,000, could see their income taxes increase by $2,200.

The increase in taxes would occur if tax brackets merge, and if deductions such as the Child Tax Credit or the marriage penalty relief decrease and expire.

Henry said Iowa LULAC supports the president’s plan to hold the line on taxes for those households that make less than $250,000 a year. About 99 percent of Hispanic families fall into that category.

Iowa LULAC also supports Obama’s plan to improve the Child Tax Credit and Earned Income Tax Credit, a refundable federal income tax credit for low-income working families. About 3.6 million Hispanic families and about 6.3 million Hispanic children have benefited through this program.

For more information, contact Joe Enriquez Henry at 515.208.7312; or Melissa Walker at 515.681.7731 or media@iowalatinos.org, or visit www.lulaciowa.org.

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