Newsmakers: Sen. Ann Rest Explains New Child Tax Credit
Minnesota Sen. Ann Rest (DFL-New Hope) is proud of the work the legislature did to pass the child tax credit.
“The child tax credit helps people rise up and families rise up out of poverty,” said Rest. “We had one at the federal level for one year that it was a larger, expanded tax credit, but then it went away. In Minnesota, we thought that was such a great idea that we had our own and it was separate from the federal one and it’s going to help about a quarter of a million families.”
Rest says this is a permanent change to Minnesota’s tax code, and the money families will get back can be used for child care, groceries, car repair, or “whatever it takes for your family to be successful.”
There’s also a change that will impact seniors.
“We are going to increase the amount of social security benefits that are taxable under Minnesota law,” explained Rest. “So, generally if you are a couple and you have $100,000 in income that includes social security benefits, your social security benefits won’t be taxed.”
Need help with your taxes? You have a few options.
“They are centers that will help you fill out a tax return, and they are a one-stop shop and I hope that many, many Minnesota families that are eligible and single people too can look and get their taxes done at no charge,” said Rest.