(C) Common Dreams
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Here's how Kamala Harris' running mate Tim Walz could help shape the child tax credit [1]
['Kate Dore', 'Cfp']
Date: 2024-08-06
Minnesota Governor Tim Walz in the Governors Reception room in the State Capitol Wednesday, November 30, 2022 St. Paul, Minn. Star Tribune Via Getty Images | Star Tribune | Getty Images
How Minnesota's child tax credit stacks up
How Walz could shape federal policy
As a key priority for Walz, Minnesota's child tax credit upgrades were the single biggest line item in his latest supplemental budget. The policy could resurface to support an expanded federal child tax credit on the presidential campaign trail. But enacting federal changes could be more challenging, depending on which party controls Congress, experts say. "It's really hard to draw straight lines from any state policymaker to federal policymaking," said Richard Auxier, a principal policy associate for the Urban-Brookings Tax Policy Center who focuses on state and local tax policy. 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. Still, while Walz enacted state tax breaks like other governors, "he was able to turn the dial up a few extra notches," Auxier said. "The child tax credit is probably the most obvious example." Walz's office did not immediately respond to CNBC's request for comment.
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[1] Url:
https://www.cnbc.com/2024/08/06/harris-running-mate-tim-walz-could-shape-the-child-tax-credit.html
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