First steps achieved toward a robust and inclusive child tax credit, with more to be done
As advocates for policies that aim to end the experience of child poverty and support New York’s children and families, Schuyler Center is pleased that this year’s state budget includes an expansion of the Empire State Child Tax Credit to include babies and toddlers ages 0-3. Starting next year, the child tax credit will reach an additional 900,000 children statewide. It will be the first time since the credit was created in 2006 that children under 4 years old are included in the state child tax credit.
By expanding the credit to include the youngest New Yorkers, our leaders have strengthened an important tool in reducing child poverty. Schuyler Center has long fought for this expansion, and we commend Governor Hochul and Legislative leaders for taking the first step toward a more inclusive child tax credit.
The Path to a More Impactful Child Tax Credit
While we are thrilled by budget action to include children under 4 in New York’s child tax credit, this year’s state budget did not include an additional, equally important expansion. To make New York’s child tax credit as inclusive as possible, leaders must also remove the phase-in that limits the credit amount provided to the lowest income families.
Currently, children in families earning the lowest incomes receive only a partial credit because their household is in the phase-in (i.e. they earn too little). These are the children who would benefit most from this credit. A family making $7,000 shouldn’t receive a smaller credit than one making $70,000.
In addition, for real poverty fighting impact, the credit amount must be increased from the current maximum of $330 per year and built to keep up with rising costs.
We will continue advocating for these additional improvements. Combined, these actions will help realize the powerful poverty-fighting potential of NY’s child tax credit.
We urge Governor Hochul and Legislative leaders to finish fixing the flaws. With these improvements, the Empire State Child Credit can be an essential tool in achieving New York’s goal of reducing child poverty by 50% within the next decade.
Schuyler Center and our many partners in the fight to end child poverty in New York State would like to thank Senator Gounardes, Assemblymember Hevesi, Senator Cooney, and the leadership in both houses of the legislature for championing these actions as well as the Working Families Tax Credit. If enacted, the Working Families Tax Credit will move New York significantly closer to meeting its statutory commitment of cutting child poverty by 50% by 2032.
Post-Budget Actions
For the remaining weeks of this Legislative Session, Schuyler Center will continue to advocate for policies that center New York’s children and families, especially those experiencing poverty. View Schuyler Center’s End of Session Legislative Priorities here.
Recent Comments