Final answer:
It is true that the Oregon Child and Dependent Care Credit can be carried forward for up to 5 years if it exceeds the taxpayer's Oregon tax liability.
Step-by-step explanation:
The statement that Oregon Child and Dependent Care Credit can be carried forward for 5 years if it exceeds your Oregon tax liability is True. Tax credits like the earned income tax credit (EITC) and child tax credits are essential components of anti-poverty programs in the U.S. They aim to reduce poverty while incentivizing work by providing tax credits based on income and family size.
The EITC, for example, is designed to phase in with increasing income until a certain point and then gradually phase out, thereby avoiding a steep poverty trap where earning more could result in a loss of overall income due to reduced government support.