Lincoln, Neb – The Nebraska Child Credit also known as Legislative Bill 294, was introduced by Sen. Danielle Conrad. The bill would benefit about 81% of the state’s children and could help almost 900,000 Nebraskan families.
If the bill is approved, Nebraska will become one of the states like Massachusetts, New York, Colorado, Maryland, California, New Mexico, Idaho, Oklahoma, and Maine which already implemented the Child Tax Credit.
Conrad believes that it was finally right to introduce the Child Tax Credit in Nebraska since it has strong support across the state. Once approved, the proposed bill will give benefits to Nebraskans both in the rural and urban areas. Families will receive financial assistance to help them deal with inflation, education, and childcare costs.
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The amount to be received is determined by the income level of the family. Families earning up to $75,000 will receive a $1,000 credit per child if they are single filers. The head of household will receive up to $92,500 while married couples who jointly file will get $122,500. Families earning more than $75,000 could receive lower credits since their income could suffice their needs, according to the state.
There is no set limit on the number of children covered in the credit. This would put more money back into the pockets of hardworking Nebraskans. This bill considers middle-class families, unlike other tax bills.
The Child Tax Credit for Nebraskans is additional to the Federal Child Tax Credit which gives $2,000 for each qualifying child under the age of 17 in the year 2022.
The bill still needs to go through a hearing before it could be debated on the floor.
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