Reps. Weinstein, McNally Introduce Thriving Families Tax Credit
COLUMBUS – State Reps. Casey Weinstein (D-Hudson) and Lauren McNally (D-Youngstown) Tuesday held a press conference introducing the “Thriving Families Tax Credit.” This legislation creates an annual refundable tax credit for middle and low-income Ohio families with children under the age of 18.
“I strongly believe that all families, regardless of zip code, should be able to succeed in our state. Providing a benefit such as the Thriving Families Tax Credit allows parents, grandparents, and caregivers to determine what is best for their budgets and their children’s needs,” said Rep. Weinstein. “I’m proud to put forward this bill to show that we trust and support Ohio families to do just that.”
“Ohio families are asking for help, and the Thriving Families Tax Credit sends a strong message that we are listening,” said Rep. McNally. “If we really want Ohio to be the best place in the country to raise a family, then we need to start putting families first.”
If passed, this bill would provide a benefit of up to $1000 per child aged 0-5 and up to $500 per child aged 6-17. Families earning less than $65,000 annually would qualify for the full benefit amount, with benefits tapering off for families earning $65-85,000. An estimated 1.8 million children would benefit statewide.
Support for child tax credits is growing and bipartisan. Thirteen other states currently have either refundable or non-refundable state-level child tax credits, including Idaho, Utah, New Mexico, and Vermont, with many more having introduced legislation to create such a benefit in the last 5 years.
House Democrats will continue to advocate for legislation that works to make Ohio the best place to raise a family.