Last, week, the Urban-Brookings Tax Policy Center hosted a half-day event
on the role tax policy has played in efforts to fight poverty since the declaration of the War on Poverty. The panelists agreed that the role of tax policy has changed drastically since the 1960s. The trend is clear: tax policy is making up a greater share of anti-poverty programs compared to direct spending programs. The Low-Income Housing Tax Credit and the Earned Income Tax Credit, for example, are now among the biggest anti-poverty programs in terms of cost to the federal government.