… Brent Adams, senior vice-president of policy and communications at the Woodstock Institute, said tax refunds represent “perhaps the only opportunity of the year” for low-income families to “make a concrete improvement” in their finances.

“It is very expensive to be poor. High interest rates, overdraft fees, late fees — these are all penalties for being poor. Key to combatting structural inequity is to put more money in the pockets of lower-income folks, who are disproportionately people of color,” Adams said.

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