Minnesota lawmakers support child tax credit on stimulus checks

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Pandemic-era direct federal aid, including stimulus checks and the extended child tax credit, is largely a thing of the past, with no new stimulus checks under consideration and the child tax credit. children expired.

In the meantime, many states have stepped up similar plans, though generally on a smaller scale than what the federal government was offering. In many cases, these plans are funded by state budget surpluses, which have often been built up by federal pandemic aid to states.

One such state was Minnesota, where Democratic Governor Tim Walz offered “Walz checks” directly to Minnesota taxpayers. According to a version of the proposal from late March, Minnesotans would receive $500 per person, with 2.7 million households receiving the benefits.

“With a historic surplus, we have the opportunity to provide direct relief to the people of Minnesota and invest in the future of our state. In a time of global economic uncertainty, direct payments are one of the best ways to make it easier for Minnesotans to pay bills,” the governor said in a news release in March. “Right now, we have the resources to send $1,000 to families in Minnesota.” Republicans instead proposed tax cuts.

However, a new report says Minnesota lawmakers have come up with a different proposal. According to Minnesota Reformer, House Democrats and Senate Republicans have both introduced proposals, both of which would “kill” the Walz check plan. Instead, Democrats proposed a child tax credit.

“House Democrat lawmakers have proposed a refundable child tax credit of $325 for each child 16 or younger for single parents earning up to $70,000 and married parents up to $140,000” , said the Minnesota Reformerthe report said, adding that the credits would apply until 2021.

“We’re going to do something focused and significant to really make a difference,” House Taxes Committee Chairman Paul Marquart told the Minnesota Reformer. Minnesota’s House has a Democratic majority, while its Senate is controlled by Republicans. Minnesota’s legislative sessions adjourn in May, so if any of the plans are to go through, a compromise between the governor and the leaders of each chamber will have to be negotiated in the coming weeks.

“The governor appreciates the House’s plan to give tax cuts to those who need them most, without giving money to the top 1 percent,” a spokesman for the governor said. Minnesota Reformer. “He continues to believe that direct payments to all working families are one of the best ways to help millions of Minnesotans fight inflation and afford the things they need.”

Stephen Silver, technology editor for The National Interest, is a journalist, essayist and film critic, who also contributes to The Philadelphia Inquirer, Philly Voice, Philadelphia Weekly, the Jewish Telegraphic Agency, Living Life Fearless, Backstage magazine, Broad Street Revue and splice today. Co-founder of the Philadelphia Film Critics Circle, Stephen lives in suburban Philadelphia with his wife and two sons. Follow him on Twitter at @StephenSilver.

Picture: Reuters.


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