Crowley understates Making Work Pay tax credit

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Crowley understates Making Work Pay tax credit

Post by T on Sat Apr 18, 2009 10:37 am

CNN's Crowley understates Making Work Pay tax credit

Summary: Candy Crowley claimed of the Making Work Pay tax credit: "The average tax cut is somewhere between $10 and $13." But Crowley did not explain that those figures apply per week, adding up to an annual tax credit of $400 per individual and $800 for families.

During the April 15 edition of CNN's The Situation Room, senior political correspondent Candy Crowley misleadingly claimed of the tax cut included in the American Recovery and Reinvestment Act of 2009, "The average tax cut is somewhere between $10 and $13." But Crowley did not explain that those figures apply per week, adding up to an annual tax credit of $400 per individual and $800 for families.

As CNNMoney.com senior writer Jeanne Sahadi explained in a March 31 article about the Making Work Pay tax credit included in the economic recovery package, "As a rough guide, singles eligible for the credit might get between $10 to $15 per paycheck if paid weekly; for those married filing jointly, they're likely to see an extra $15 to $20" [emphasis added]. Sahadi went on to note that "[t]he credit is ... worth up to $400 a year for single filers and $800 for joint filers" [emphasis added]. Indeed, the section of the act establishing the Making Work Pay tax credit states:Link

T

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