Tax Commissioner Cynthia Bauerly to visit MSUM
Minnesota State Tax Commissioner Cynthia Bauerly will visit MSUM’s Early Education Center today, April 2 at 9 a.m. to hold a news conference to talk about the Child and Dependent Care Credit.
The point of her visit is to get the word out about the proposal to expand the credit, which is currently making its way through the Legislature. The proposal would expand the credit to 92,000 new families and increase the credit amount for all families.
In addition to the media event, Bauerly will tour the facility and meet some of the children.
Information about the credit:
The proposal provides $99.9 million in tax relief to 130,000 middle class families. Under current law, the Child and Dependent Care Credit provides direct tax relief to just 38,000 Minnesota families. But the plan proposed by Governor Dayton this session would ensure that a total of 130,000 low- and middle-income families would receive the tax credit. It would raise the income limit to $112,000 for families with one child, or $124,000 for families with two or more children. The average eligible family would see a $429 increase in their Child Care Tax Credit. Learn more about the credit on this fact sheet.