Walz’s $12B, 4-year education budget includes tax credits
“Gov. Tim Walz unveiled a $12 billion, four-year education budget Tuesday that includes big tax credits for families with young children as well as more money for public schools across the state. The former high school teacher proposed a refundable child tax credit of $1,000 per child younger than 18, and older kids with special needs, for families making less than $50,000 per year, with a maximum credit of $3,000. The credit would phase out for families making more than $50,000.Walz also called for increasing the state’s child care credit to allow families making under $200,000 to receive up to $4,000 for one child, $8,000 for two kids and up to $10,500 for three to help them with day care costs. Many families could qualify for both tax credits.”