From ef18ab1af613e4c32a0470f0e5222db6c03c6868 Mon Sep 17 00:00:00 2001 From: David Trimmer Date: Mon, 20 Apr 2026 11:32:22 -0400 Subject: [PATCH] =?UTF-8?q?Bill=20review:=20MN=20HF4890=20=E2=80=94=20fift?= =?UTF-8?q?h=20income=20tax=20bracket=20+=20expanded=20Child=20Credit?= MIME-Version: 1.0 Content-Type: text/plain; charset=UTF-8 Content-Transfer-Encoding: 8bit Adds analysisDescriptions.js entry for Minnesota HF4890, which introduces a new 10.15% income tax bracket at $1M/$600K/$800K (joint/single/HoH) and raises the Minnesota Child Credit from $1,750 to $2,000 per qualifying child. Reform impacts computed against CPS-based MN dataset (PE-US 1.653.3): +$31.2M/year net revenue, -0.24pp poverty rate, -0.57pp child poverty rate. Co-Authored-By: Claude Opus 4.7 (1M context) --- src/data/analysisDescriptions.js | 1 + 1 file changed, 1 insertion(+) diff --git a/src/data/analysisDescriptions.js b/src/data/analysisDescriptions.js index 0ddddc7..fd119d5 100644 --- a/src/data/analysisDescriptions.js +++ b/src/data/analysisDescriptions.js @@ -62,6 +62,7 @@ const descriptions = { "mn-hf154": "Reduces Minnesota's first-tier individual income tax rate from 5.35% to 2.8%, a 2.55 percentage point cut affecting all filing statuses. Also rebases statutory bracket thresholds to 2025 inflation-adjusted values (no real-world threshold change). Effective for tax years beginning after December 31, 2024.", "mn-hf2197-ctc-wfc-marriage-penalty": "Increases CTC phaseout threshold for joint filers to $75,000 and other filers to $37,500, eliminates WFC for childless adults.", "mn-hf2502-ctc-marriage-penalty": "Increases child credit phaseout threshold for joint filers from $35,000 to $63,900 to eliminate marriage penalty.", + "mn-hf4890": "Minnesota HF4890 adds a fifth individual income tax bracket at 10.15% applying to high-income filers ($1,000,000 joint, $600,000 single, $800,000 head of household), restructures the four existing brackets, and increases the Minnesota Child Credit to $2,000 per qualifying child. Effective tax year 2026.", // Missouri "mo-sb458": "Replaces Missouri's graduated income tax brackets (0%-4.7%) with a flat 4.0% rate on all taxable income, effective January 1, 2026. Also eliminates Missouri's federal income tax deduction (\u00a7143.171), which currently allows filers to deduct 5-35% of federal taxes paid. Includes a trigger mechanism for further rate reductions toward zero contingent on a constitutional amendment (not modeled).",