Credit Has Returned More Than $523 Million to Minnesotans, Delivering an Average $2,559 to Working
St. Paul, Minn. – Senator Ann Rest (DFL-New Hope) said today that Minnesota’s nation-leading Child Tax Credit (CTC) has already returned more than $523 million to 204,000 qualified working families across the state, delivering an average of $2,559 per family to help them meet their basic needs.
Senator Rest, who as chair of the Senate Taxes Committee, authored the 2023 CTC law, Governor Walz’ s signature initiative. She said the Minnesota Department of Revenue told her this week that nearly 416,000 children have benefited from the $1,750 per-child credit that is dramatically reducing child poverty across the state.
“I am proud of Minnesota’s nation-leading Child Tax Credit law that is significantly reducing child poverty across our state,” said Senator Rest. “During this time of heightened economic uncertainty, we have seen hundreds of thousands of qualified families taking advantage of the credit to put significant money back in their pockets and help them meet basic needs. And this year, our state is the first in the nation to allow working families to receive advance payments of the CTC during the year, so they don’t have to wait until they file their taxes next year.”
Sen. Rest said that qualified families can receive advanced payments of the CTC throughout the year. Information on advanced payments can be found on the Minnesota Department of Revenue website here. ###
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