President’s 5 Economic Proposals That Could Benefit LGBTQ People
The Huffington Post
By Meghan Maury
January 22, 2015
This week, President Obama introduce a series of economic proposals during his annual State of the Union speech. Here’s how five of them would impact the LGBTQ community:
1. New Child Care Credit
President Obama proposed a new tax cut of up to $3,000 per child, per year for families with young children. According to a report from the Williams Institute, an estimated 3 million LGBTQ Americans have had a child. Nearly half of lesbian, bisexual, transgender, and queer women and a fifth of gay, bisexual, transgender, and queer men are raising a child under the age of 18. These members of our community are struggling. Single LGBTQ adults raising children are three times as likely as non-LGBTQ individuals to report incomes near the poverty level. Married same-sex couples raising children are twice as likely to be living near the poverty level as their different-sex couple counterparts. The Child Tax Credit that is currently in place lifts more than 3 million people out of poverty each year, and reduces the severity of poverty for almost 14 million more. In short, this measure is likely to significantly reduce the economic strain faced by LGBTQ families.
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