New York lawmakers want to make expanded tax credits for families in the state a key provision in the state after the expiration of a federal expansion last year.
The proposal, backed by Sens. Andrew Gounardes and Jeremy Cooney and Assemblyman Andrew Hevesi, is meant to give increased support to families with kids younger than age 18. The measure would create a larger credit delivered every three months.
Lawmakers pointed to the pledge of Gov. Kathy Hochul to reduce child poverty by half over the next decade.
“For millions of families across New York state, having to make near-impossible financial choices — like choosing between putting food on the table or paying the utility bill — is a daily reality,” Gounardes said.
The measure would cover children ages 0-4, as well as families regardless of their citizenship status. There would be no phase-in, so families with the lowest incomes can receive the largest credit.
The maximum credit would be up to $1,500 per child and provide up to $500 per child regardless of income. A cap on the number of children eligible to receive the credit would end.
Lawmakers and advocates pointed to a study that found the since-lapsed expansion of the federal child tax credit helped lift 2.9 million children out of poverty nationally and 120,000 children in New York.
The state budget is due to pass by April 1.