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Minnesota Budget Bites

Minnesota Tax Credits

03/26/24
  • Minnesota Tax Credits
  • Minnesota Taxes

Minnesota Child Tax Credit strengthens families and reduces child poverty

Parents with children in nature
Minnesota’s new Child Tax Credit (CTC) will help families achieve their goals and invest in a better future for themselves and their children. Earlier this session, members of the House Tax Committee heard a brief overview of the state’s Child Tax Credit, which was created in the 2023 tax bill, and an update on its implementation.
05/12/23
  • Minnesota Tax Credits
  • Minnesota Taxes
  • Minnesota Taxes and Tax Plans
  • Poverty

2023 tax conference committee weighs similarities, differences in House, Senate, Walz tax plans

This year, policymakers are considering transformational changes and long-overdue investments to make Minnesota a state...
03/29/23
  • Minnesota Taxes
  • Racial Equity
  • Minnesota Tax Credits
  • Minnesota Taxes and Tax Plans

House Property Tax Division bill includes transformational changes to the Renters’ Credit

One of the highlights of last year’s tax discussion is moving forward again this session: a game-changing proposal to...
02/01/23
  • Transportation
  • Minnesota Taxes and Tax Plans
  • Minnesota Budget
  • Immigration
  • Minnesota Tax Credits
  • Health Care
  • Child Care
  • Minnesota Budget Plans
  • Minnesota Taxes

Governor Walz releases FY 2024-25 budget priorities

In his proposal for the two-year FY 2024-25 budget cycle, Governor Tim Walz proposes $11.2 billion in additional funding for public services, with the largest amount of new dollars going toward education, economic development, and health and human services. He also proposes $5.4 billion in tax reductions in FY 2024-25, with the biggest component being a one-time tax rebate. Read more in our blog.