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The Working Families Tax Rebate (WFTR) will help more hard-working Washingtonians meet basic needs, while also providing a boost to the local economy.
The WFTR was signed into legislation in 2008, but never funded. If funded, it would gives a portion of the sales tax back to workers with low wages, helping them afford basic necessities for their families.
The WFTR is based on the federal Earned Income Tax Credit (EITC), a highly successful tool for keeping children out of poverty and providing greater economic security for families.
(1) Assumes the WFTR is set to 10 percent of the federal EITC. Rounded to nearest dollar. (2) B&PC analysis of 2012 tax data from the Brookings Institute. (3) Brookings Institute analysis using the Brookings MetroTax model. Qualifying children include those under the age of 19 by the close of the tax year, those under the age of 24 that are enrolled in post-secondary education, or those who are permanently disabled. (4) B&PC analysis of 2012 tax data from the Brookings Institute. Share of households eligible is defined as the share of households that file federal tax returns and claim the EITC. Total WFTR dollars assume funding at 10 percent of the federal EITC.