Democratic nominee Kamala Harris has picked Minnesota Gov. Tim Walz as her running mate, a choice that could highlight the child tax credit, experts say.
Democratic nominee Kamala Harris has picked Minnesota Gov. Tim Walz as her running mate, a choice that could reinforce Harris' policy focused on middle-class Americans, including the child tax credit.
Expanding the federal child tax credit has bipartisan support, but it could be challenging, depending on which party controls Congress., including Minnesota, expanded or enacted a state-level child tax credit. Minnesota enacted its tax break in 2023 after the federal expansion ended.," Minnesota's refundable child tax credit was $1,750 per child for 2023, which was the biggest in the country for low earners.
"This year, we invested directly in the financial security and well-being of families across the state through our nation-leading child tax credit," he said in a press release.For tax year 2024, eligible Minnesota families can soon choose to receive 50% of the credit before the tax season via advance payments. A similar policy was enacted for the federal child tax credit in 2021, whichwere the single biggest line item in his latest supplemental budget.
In Minnesota, the child tax credit was enacted via a Democratic-controlled state legislature, along with a significant budget surplus, which is different from the federal climate, he said.
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