Vermont EITC by income, select filing status, and number of children, 2024

The Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) provide cash to families, reducing poverty and providing flexibility to meet their differing needs. The state EITC is 38 percent of the federal credit. In 2021 Covid relief increased the federal EITC for filers without children and expanded eligibility, leading to an increase in uptake at the state level too. In 2022, the Vermont Legislature enacted a Child Tax Credit for families with young children. In its second year, the CTC provided $24 million to 20,000 Vermont families, while 32,500 households claimed $26 million from the state EITC.