Ohio Gov. Mike DeWine’s newly proposed child tax credit, which would give Ohio families up to $1,000 in tax refunds per child under seven years old, would cost Ohio about $450 million per year, the state estimates.
On Monday, DeWine made the case for a child tax credit helping Ohio families pay their rents, mortgage, or child care — all aspects of raising children that have gotten considerably more expensive in recent years.
As proposed, the refundable tax credit would be equal to 5% of a household’s income for every child they have younger than seven years old. The credit is capped at a maximum of $1,000 per year per child.
