The Earned Income Tax Credit (EITC) is an important tool that gives working families who are barely getting by the opportunity to build assets for themselves and the next generation. With the EITC, low-income tax filers can buy textbooks for their children, make repairs to their home or car, and build a cushion of savings for future emergencies. In 2011, the average EITC recipient in Illinois received $2,250 from the federal government and even more from the state—a substantial boost to working families’ assets. Unfortunately, one in five eligible tax filers do not claim the EITC, missing a chance to invest in their future. Today is Earned Income Tax Credit Awareness Day, organized by the IRS to encourage workers to file for the EITC and let them know about free tax preparation options available to them.

When it comes to setting priorities on pressing housing issues, municipalities across the Chicago region are putting aside their differences and working together to improve livability throughout the area. The latest manifestation of this collaborative spirit is the Northwest Suburban Housing Collaborative (NWSHC), a group of five municipalities in northwest Cook County who have joined forces to proactively address housing needs in their communities.

You are cordially invited to a workshop, hosted by the Cook County Bureau of Economic Development and Dept. of Building and Zoning, to explain the recently passed Vacant Building Ordinance and how it can help your municipality. As you may be aware, the ordinance allows interested municipal governments to "opt-in," with the goal of creating a uniform set of guidelines for maintaining and securing vacant properties throughout Cook County. The workshop will provide additional information regarding the features of the ordinance, including the creation of a vacant building registry and the ability to adjudicate violations of the ordinance through the Cook County Department of Administrative Hearings.

During his State of the Union address tonight, President Obama announced measures to make homeownership more affordable for homeowners and hold banks accountable for fraud and abuses that rocked the financial system and drained billions of dollars of wealth from families in Illinois and across the country. Specifically, the President announced an initiative to give homeowners who are current on their mortgages the opportunity to refinance at today’s record low rates. He also announced the creation of a unit, led by New York Attorney General Eric Schneiderman, which will focus on investigating abuses in the mortgage origination and servicing sectors.