Earned Income Tax Credit

HB 1290 EARNED INCOME TAX CREDIT was discussed in the House Ways and Means committee with strong bipartisan support. This bill works to remove generational poverty by increasing the Earned Income Tax Credit from 10% to 15%. This credit supports lower-income people and families. The Urban Institute reports that only five states have a credit lower than Indiana's current level. 

MCCOY supports all efforts to expand tax credits (including the Child Tax Credit!) that lift families out of poverty and help children and caregivers thrive.

Education Savings Accounts

SB 305 INDIANA EDUCATION SCHOLARSHIP ACCOUNT PROGRAM received a hearing on Wednesday afternoon. If passed, it would expand access to allow for all students to be eligible for Education Savings Accounts (ESA’s) through the office of the Treasurer. This would allow parents to receive government funds to place their children in the schools of their choice.

Advocates in support of the bill are excited at the opportunity to expand opportunities for school choice, while opponents are concerned that this would take much-needed funding away from public schools and remove any public oversight by paying taxpayer money for independent or home schools who may not have strong credentials or follow state academic standards.

Financial Literacy

SB 35 FINANCIAL LITERACY received a hearing on Wednesday afternoon. The bill would require high school students to pass a financial literacy course to graduate. The concepts taught in the class according to the bill are saving, spending, bank account types, managing a bank account, understanding debt management, what to do if you receive an inheritance, understanding of retirement, property tax assessments, loans, simple versus compound interest, credit scores and a basic knowledge of contracts. The bill received unanimous support from advocates who testified in addition to the IDOE. The bill was held, though committee members hope to pass this bill through the committee next week.

Sex Education

HB 1066 SEXUAL HEALTH EDUCATION has been introduced and assigned to the House committee on Education. If passed, it would require that any of the information that's taught during a sexual education class would be medically accurate, comprehensive and age appropriate. Currently, school districts are left to decide whether to teach sex education and decide their own preferred teaching method.

Legislators hope that by educating students, this legislation could prevent unwanted pregnancies, an issue fresh in people's minds following last summer's special session on abortion access in our state.