Tax season in Oregon heralds the debut of a new lifeline for low-income families grappling with the costs of raising young children. Termed the Oregon Kids’ Credit, this tax credit, valued at up to $1,000 per qualifying child, aims to alleviate financial strain for eligible households.

Enacted by the Oregon legislature the preceding year, the Oregon Kids’ Credit targets families earning $30,000 or less annually and nurturing a child under six years old. Families meeting the income threshold can claim the credit for each eligible child, with a maximum limit of five children.

Tyler Mac Innis, a Policy Analyst at the Oregon Center for Public Policy, underscored the significance of this initiative, emphasizing its role in bolstering vulnerable families. However, he stressed the necessity for families to file a tax return to access the credit.

The bipartisan support garnered by the Oregon Kids’ Credit during its legislative journey underscores its importance. Despite a contentious session marked by Senate Republican walkouts, the credit secured overwhelming approval in both the House and the Senate.

Representative Andrea Valderrama, a leading advocate for the legislation, highlighted the tangible impact of the credit on Oregonian families. With nearly 55,000 children statewide poised to benefit, particularly those in rural areas, the credit promises to be a crucial resource for struggling households.

Despite its potential to alleviate financial burdens, claiming the Oregon Kids’ Credit necessitates timely tax filings, with the deadline set for April 15. Moreover, families qualifying for this credit may also be eligible for federal and state Earned Income Tax Credits, as well as other tax benefits.

To facilitate access to the credit, free tax preparation services are available for eligible families. Resources can be accessed through the Oregon Department of Revenue’s designated webpage or by dialing 2-1-1.

Mac Innis emphasized the collective advantage of maximizing participation in the Oregon Kids’ Credit, asserting that it contributes to the overall welfare of the state. By ensuring eligible families avail themselves of this support, Oregon aims to foster financial stability and well-being for its most vulnerable members.