Federal legislation that could help ease the estimated $57 million  annual Earned Income Tax hit on the Government of Guam's budget is advancing in Congress.

The measure cleared a markup meeting today by the House ways and means committee.

Basically, the bill requires the Treasury Department to rebate to GovGuam 75 percent of the cost of EITC. Federal Affairs Committee Chair senator Regine Biscoe Lee has been following the legislation and sent a letter to Ways and Means Chairman Richard Neal thanking him for the legislation and outlining the impacts to Guam.

Chairman Neal's Bill would provide for similar payments to Puerto Rico and the other U.S. Territories.