 Governor Walz announced that taxpayers who qualify for Minnesota’s nation-leading Child Tax Credit will have the option to receive advance payments of the credit during the upcoming tax filing season. Minnesota is the first state in the nation to offer this option for Child Tax Credit recipients.
More than 223,000 tax returns claimed the new Child Tax Credit for tax year 2023, for an average total credit of $1,242. This tax credit put over $562 million into the budgets of Minnesota families this year.
"The goal of this nation-leading tax credit is to lower child poverty and provide tax relief for working class families in Minnesota. With the advance payment option, we’re making it easier for families to manage their annual household budget," said Governor Walz. "This new option will increase financial freedom and ensure families have the support they need all year long."
On Thursday, Governor Walz announced more than $10.5 million for seven business expansion projects in the state. The projects are expected to support 755 jobs and leverage more than $86 million in outside investment.
"Investments in business expansion support innovation, drive business growth, and create good-paying jobs," said Governor Walz. "The expansion of these seven businesses will help Minnesota communities prosper and keep our economy strong."
On Friday, Governor Walz celebrated the news that Minnesota was ranked a top-five state to retire by a Motley Fool study. States were ranked on factors including quality of life, affordable housing, safety, health care, and cost of living.
"Americans deserve to retire with support and security, and that’s what we’re doing here in Minnesota," said Governor Walz. "By cutting social security taxes, funding services that keep Minnesotans in their homes as they age, and investing in safe communities across the state, we’ve made Minnesota one of the best places to retire. I’m proud to see this accomplishment reflected in data."
Lieutenant Governor Flanagan joined volunteers at Open Arms in Minneapolis to help pack meals ahead of the holidays.
"Open Arms believes in a simple notion: people who are sick should not be without food. They do such important work, preparing and delivering meals at no cost to critically ill Minnesotans," said Lieutenant Governor Flanagan. "I was honored to join them this week to pack some meals for our neighbors in need."
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