Oregon Kids' Credit Passed in an
Effort to Support Families in Need

August 20, 2023

In a significant move, Oregon lawmakers have overwhelmingly passed the Oregon Kids' Credit (HB 3235), aiming to provide relief to families facing the increasing costs of raising children. The credit seeks to ensure that families in need receive the additional resources required to cope with their financial challenges.

What is the Oregon Kids' Credit? 

The Oregon Kids' Credit is an annual refundable tax credit of $1,000 per eligible child aged 0-5. This credit has been specially designed to assist Oregon families struggling with the mounting expenses of raising kids in today's economy. 

Who is Eligible? 

Oregon families who meet the income requirements and file taxes are eligible to benefit from this credit.  

 

The credit begins phasing out at an adjusted gross income of $25,000 and ends at $30,000. The income thresholds are indexed to inflation, aiming to ensure the program's relevance and effectiveness over time.

 

When Does it Start?

Oregon is working to make the credit accessible to families as soon as possible. They plan to provide the credit in advance quarterly payments to help meet family’s immediate needs. The credit will go into effect for tax year 2023.

 

What is the Benifit?

Lawmakers feel that the passage of the Oregon Kids' Credit could represent a notable advancement in addressing the economic challenges experienced by families throughout Oregon. Through the provision of direct cash assistance they hope that those in the most vulnerable positions can have the chance to flourish. We're here with you every step of the way, monitoring the situation and ensuring you're in the loop as it unfolds.

Sources: Image by Foto Phanatic