19 million
The temporary expansion of the federal Child Tax Credit included in the American Rescue Plan has expired and reverted to the 2017 tax law. Under those provisions, 19 million children – more than 1 in 4 children under age 17 – will get less than the full Child Tax Credit or no credit at all this year because their families earn too little. Meanwhile, families with much higher incomes will receive the full $2,000 credit for each child.
More from Center on Budget and Policy Priorities
$4 billion
Florida expanded its taxpayer-funded voucher program to include all K-12 students at an estimated cost of $4 billion next year. The change removes an income cap of $100,000 for families, providing an annual windfall for wealthy households and funneling more taxpayer funds away from state aid to public schools.
In Nebraska, a coalition is leading a 90-day petition drive to put a private school voucher program passed by the Legislature this year before voters in 2024.
Commentary on Florida voucher plan from the Washington Post
More information on petition drive to put Nebraska voucher bill before voters
82%
Lawmakers in Connecticut approved the largest income tax cut in state history, but with relief targeted to the middle class. Under the proposal, a family earning $100,000 per year will see a tax cut of nearly $600 next year with 82% of the benefits directed to filers who make less than $150,000.
In Nebraska, three-quarters of the benefits from income tax cuts passed this year will flow to the top 20% of earners, filers making more than $138,000.
More on Connecticut tax cuts from the Hartford Courant
$41 million
With June numbers still to come in, Nebraska’s state tax receipts through 11 months of the fiscal year are lagging about $41 million shy of last year’s pace and $53 million behind the state’s forecast. Although tax revenues have been slowly dropping for the past several months, the Nebraska Economic Forecasting Advisory Board earlier this year predicted revenues would grow from $6.37 billion in the current fiscal year to $6.5 billion in FY 23-24.
More from the Omaha World-Herald
Next week
On Wednesday, June 21, the Nonprofit Association of the Midlands, Coalition for a Strong Nebraska and the Nebraska Civic Engagement Table will host a wrapup of the legislative session and a look ahead to next year. OpenSky Executive Director Dr. Rebecca Firestone and Policy Director Joey Adler Ruane are among the panelists.