NC earned income credit expires in House bill - WSFX - FOX Wilmington, NC

NC earned income credit expires in House bill

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RALEIGH, NC (AP) - North Carolina's working poor may miss out soon on a subsidy program designed to put more money into their pockets when they file state income tax returns.
A House bill expected on the chamber floor again next week would end the state's version of the Earned Income Tax Credit starting with 2014 returns.
Democrats passed the credit in 2007. It allows hundreds of thousands of families to collect checks if their credit exceeds what they owe in taxes. The credit was supposed to expire in 2012, but Republicans extended it for another year. GOP lawmakers are considering a tax overhaul in 2013.
The bill making several tax changes passed a committee Wednesday. Floor debate got delayed Thursday when a Democratic amendment was filed to extend the credit until 2019.

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