PATERSON - With the deadline to file state and federal tax returns only days away, U.S. Rep. Bill Pascrell, Jr. (D-NJ-08) was today joined by members of ACORN to announce two new pieces of reform legislation that promise to extend the Earned Income Tax Credit (EITC) and Child Tax Credit to additional low and middle income families.

"As Americans file their taxes by Monday, most will have learned that the tax policies in place are not working, stated Pascrell.  "Today, I am announcing legislation that will represent the economic interests of working Americans."

Pascrell's EITC legislation will rescind the unnecessary Bush tax cuts, and amend the Internal Revenue Code to:

• Increase marriage penalty relief and making it permanent.
• Increasing the credit for families with three or more children.
• Slowing down the phase-out rate for individuals without children.
• Permanently extending the provision which allows members of the armed forces to include combat pay as income for EITC computations.

Pascrell's Child Tax Credit legislation will make more low income Americans eligible to receive the Child Tax Credit.  This legislation has three components:

• Lower the income threshold for receipt of the Child Tax Credit to $5,000 annually
• Repeal the annual inflation adjustment to the earned income threshold amount used to determine the refundable portion of the child tax credit
• Increase the age limit for a qualifying child under the child tax credit from 17 to 19 years.

Both pieces of legislation will be introduced in Congress when the House of Representatives returns to session. 

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