WASHINGTON – Today, Congresswoman Rashida Tlaib (MI-13), joined by 13 of her fellow Congressmembers, reintroduced the Building Our Opportunities to Survive and Thrive (BOOST) Act. This anti-poverty legislation would give families up to $6,000 in their pockets through a refundable tax credit that can be paid monthly—lifting more than 3 million children and 9 million families out of poverty. This would build on the groundbreaking work of the American Rescue Plan and the forthcoming Build Back Better Act to significantly reduce poverty in America and provide relief to low- and moderate-income households.
“Even prior to the COVID-19 pandemic, too many people have been living in poverty and many more are a small emergency away from finding themselves struggling to put food on the table. While the cost of living and the cost for critical goods and services have risen year after year, the wages of working Americans have remained stagnant for decades,” Rep. Tlaib said. “Nearly half of Americans don’t have enough cash to cover a $400 emergency expense. The BOOST Act is designed to help cushion the blows of those unexpected expenses, like a rent increase, medical bill, childcare payment, tuition check, or even a blown tire, and finally alleviate income inequality.”
According to a 2019 analysis by the Institute for Taxation and Economic Policy, the BOOST Act will help more than 153 million adults, including 93% of the bottom 60%, and more than 64 million children, including 99% of the bottom 60%. In total, the BOOST Act would provide additional income to more than 218 million Americans.
The following components of the BOOST Act would strengthen the nation’s fraying and disinvested social safety net, as well as provide critical relief and financial security to families across America:
- Provision of a Middle-Class Tax Credit of up to $6,000 per family per year.
- A single taxpayer is eligible for up to $3,000 annually, while married couples/families/joint filers are eligible for a maximum of $6,000 annually.
- Individuals can receive up to $250 per month.
- Families can receive up to $500 per month.
- The credit is refundable, meaning that taxpayers who qualify for it can get it even if they owe no taxes (filers with no income are still eligible for the credit).
- The credit can be claimed by single filers making wages up to $49,999.
- Families making wages up to $99,999 are eligible.
- About 123 million workers and their families would be eligible for at least a partial tax credit.
The BOOST Act’s 13 other cosponsors include Reps. Jesús “Chuy” García, Ayanna Pressley (MA-07), Alexandria Ocasio-Cortez (NY-14), Eleanor Holmes Norton (D-DC), Nydia Velázquez (NY-07), Sheila Jackson Lee (TX-18), Kweisi Mfume (MD-07), Jamaal Bowman (NY-16), Mark Pocan (WI-02), Barbara Lee (CA-13), Debbie Dingell (MI-12), Yvette Clarke (NY-09), and Chairwoman of the Committee on Oversight and Reform Carolyn B. Maloney (NY-12).
“We can and must do more to lift families out of poverty, which is why I’m proud to be an original cosponsor of the BOOST Act. This legislation will provide relief for families struggling to get by and make our economy fairer for all,” Chairwoman Maloney said.
The legislation is also supported by local community organizations—including Wayne Metropolitan Community Action Agency, Detroit Action, and Mothering Justice—who understand the importance and impact of it as an anti-poverty tool that will make a tremendous difference for families in Michigan’s 13th and across the country.
“The BOOST Act is critical to addressing our communities economic disparities and helps to move our most vulnerable populations out of poverty,” Detroit Action Executive Director Branden Snyder said.
“The BOOST Act strengthens our social safety net and provides working families with the resources and opportunities to not just survive, but thrive,” Wayne Metropolitan Action Agency CEO Louis D. Piszker said.
The full text of the bill can be read here.