Jared Bernstein

Jared Bernstein is an economist and senior fellow at the Center on Budget and Policy Priorities. He was formerly chief economist to Vice President Joe Biden and a member of President Barack Obama’s economics team.

 

Recent Articles

Two Cheers for the EITC

I like the Earned Income Tax Credit (EITC) a lot. I also really like brownies with gobs of vanilla ice cream and hot fudge. But I don't have them for breakfast, lunch, and dinner. The EITC--a refundable tax credit that subsidizes the wages of low-income workers--is everyone's darling. New Democrats love it. President Clinton expanded it significantly in his first budget and recently proposed another expansion. Almost every economist willing to use tax policy to help low-income families supports it. Even the right is on board. When congressional Republicans wanted to delay EITC payments to help make their budget numbers add up, candidate George W. Bush (still in compassionate mode) went after them with vigor for trying to balance the budget "on the backs of the poor." And in recent testimony around a proposed minimum wage increase, House Republicans were falling all over each other to heap praise on the EITC as a far better alternative (though none was proposing to increase it). But is...

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