NC House rejects extending credit for working poorRALEIGH, N.C. (AP) - North Carolina House Republicans want to move as scheduled to eliminate a tax credit designed to put more money in wallets of the working poor.
The House tentatively agreed Tuesday to legislation that moves annually and conforms or differentiates state tax law to federal changes. The bill adjusts the state's version of the Earned Income Tax Credit slightly but doesn't change a previous decision to end the credit starting with 2014 returns.
The credit allows families to collect checks if their credit exceeds what they owe in taxes. An outside group says 900,000 tax returns filed for the credit valued at $105 million in 2011.
The bill passed after the chamber defeated a Democratic amendment that would have extended the credit until 2019.
A final House vote could come Wednesday.