New York is unique in having a refundable child tax credit that limits maximum benefits for low-income families, negatively affecting its ability to address child poverty. Governor Hochul proposes expanding the Empire State Child Credit to increase household credits significantly, especially for families with children under four. This initiative aims to reduce child poverty levels, which remain high in the state. The credit would phase out for higher-income earners, ensuring support for lower and moderate-income families, which advocates expect will make a meaningful difference.
New York's refundable child tax credit limits maximum benefit for low-income families, but Gov. Hochul's proposals could significantly enhance its anti-poverty effect.
The proposed expansion of the Empire State Child Credit would raise the maximum benefit for children under 4 from $330 to $1,000, addressing child poverty.
Families earning above $110,000 for joint filers will see the benefit phase out, potentially reducing resource availability for higher-income families as well.
Current eligibility for the child credit includes families filing taxes with ITINs, showing New York’s commitment to inclusivity in providing financial support.
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