A child tax credit has been granted by state lawmakers for Oregonians with household incomes of $25,000 or less annually. According to House Bill 3235, every child from birth to age five will receive a $1,000 tax benefit. For families making more than $30,000 each year, the credit phases off.
Child Tax Credit for Oregon
According to policy researcher Tyler Mac Innis of the Oregon Center for Public Policy, his organization identified approximately 55,000 students who will qualify for the credit in all 36 counties.
“This policy, the Oregon Kids Credit, really is about targeting our resources at the state level to help the families in greatest need and ensure that we have a more economically just state,” he stated.
Bill Fully Supported by the Legislators
Only one senator and one representative in each chamber objected as the bill passed with almost universal support in both chambers. It is now on the desk of Governor Tina Kotek. In 2024, the so-called Oregon Kids’ Credit is expected to become effective.
According to Mac Innis, the credit was based on the federal child tax credit, which Congress temporarily increased in 2021 due to the pandemic. the child tax credit helped almost half of the population of child poverty. They have seen with their naked eyes the families struggling in raising their kids and supporting their daily needs. Even racial inequalities were significantly decreased.