The Protecting Americans from Tax Hikes Act of 2015 (PATH Act) was created to make a wide variety of tax breaks permanent, as well as to deter attempts to defraud the government with false tax credit claims. The PATH Act affects both individual taxpayers and businesses and has a wide range of effects.

For individuals and their families, the PATH Act affects two tax credits: the Child Tax Credit (CTC) and the Earned Income Tax Credit (EITC). It makes both of these tax breaks permanent and provides a variety of other improvements and benefits including higher maximum benefits, lower phase-out limits and broader eligibility. Furthermore, the PATH Act is retroactive, which means that taxpayers who claimed either of these credits on previous years can now take advantage of higher benefits and restrictions.

In addition to making the CTC and EITC more accessible to taxpayers, the PATH Act also enables employers to take advantage of a new tax break. Companies who hire individuals from traditionally disadvantaged groups will receive a portion of their wages as a form of tax credit, known as the Work Opportunity Tax Credit (WOTC). The PATH Act extended this program, meaning that businesses can receive a hefty tax break for hiring workers from certain target groups.

In light of the numerous tax breaks available to both businesses and individuals, the PATH Act of 2015 is an incredibly important piece of legislation. It provides much-needed assistance to taxpayers and helps ensure that these programs continue long into the future. Through the various benefits and assistance it provides, the PATH Act helps to make the tax system fairer and more accessible. For this reason, it is a valuable asset for all taxpayers, no matter their economic level.